Report: Cisco is Building a Blockchain Ecosystem and Platform

Referred to as the “tech breakthrough megatrend” by PwC, blockchain is poised to change the rules by automating trust, increasing transparency and simplifying business processes. However, to unleash its full potential, several challenges must be addressed, according to a Cisco report.

Bitcoin Blockchain

Bitcoin Blockchain, Pexels.com

Blockchain technology has come a long way since its debut as just the technology behind cryptocurrencies. Today, all major firms are either exploring or piloting blockchain applications, which promise increased efficiency and costs savings. According to IDC, global spending on the technology is expected to reach US$2.1 billion in 2018.

Blockchain adoption and the transformation toward an era of a programmable economy is expected to deliver efficiencies and new business value in excess of US$3 trillion by 2030. This will be driven primarily by improved cash flow, asset provenance, and native asset creation, as well as new trust-based business models, according to the Blockchain by Cisco report.

Though blockchain has the potential to transform the business landscape, important challenges to wider adoption remain, says Cisco, which outlines three key challenges.

First, the firm notes the need to establish platform standards that meet the complex needs of the enterprise. In addition, today’s organizations are seeking industry-specific solutions to transform their business processes. Finally, interconnectivity of multiple independent blockchain networks is needed to unlock the true value of blockchain.

The report cites several areas that would benefit greatly from blockchain adoption. These include supply chain where blockchain can enable manufacturers to improve track and trace of components and finished goods. Blockchain can enable new applications around anti-counterfeiting, supplier and purchaser financing, or management of supply chain disruptions and recalls.

Another area is the Internet-of-Things (IoT) where the decentralized and autonomous model of the blockchain can be used as a foundation. Finally, smart cities can use blockchain to create a secure and common ledger to manage real-time data around transportation, energy, and utilities.

 

Cisco is building a blockchain platform

Cisco is currently developing a blockchain platform aimed at meeting desired use case requirements across different industries. The platform core consists of multiple layers, each including multiple subservices, with many customizable using pluggable interfaces.

It features a communications layer and distributed ledger, a pluggable smart contract engine that supports familiar developer languages such as JavaScript, GoLang and Python, an identity and policy layer responsible for tasks such as authentication, authorization and identity management, and an orchestration layer that ties all the other service levels together as part of a “service mesh.”

The blockchain framework is completed with end-to-end security and analytics spanning the infrastructure layer through the interface layer.

Cisco blockchain framework

Cisco blockchain framework

Beyond its blockchain platform, Cisco says it is building an ecosystem that would bring together service providers, independent software vendors (ISVs), and startups, as well as key consulting partners to create end-to-end industry solutions for the enterprise.

A primary focus for this “true Internet-scale trust network” is interoperability. Cisco says it is creating a common data model for digitized physical assets that can be deployed on any existing blockchain network, including well-known platforms in the Hyperledger project and Enterprise Ethereum.

The firm is working with several industry partners including the Trusted IoT Alliance, the Hyperledger project, the Enterprise Ethereum Alliance and the Chamber of Digital Commerce to develop standards and tools.

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Ripple is Now Listed on Gibraltar’s Stock Exchange Group

The Gibraltar Blockchain Exchange (GBX), an institutional-grade, regulated digital asset exchange, has  added Ripple (XRP) to its Digital Asset Exchange (GBX-DAX). The GBX is part of is part of the Gibraltar Stock Exchange (GSX) Group.

Nick Cowan, Managing Director and Founder of GSX, said, “Ripple is a major player within the blockchain industry. In ways similar to our work at the GSX Group, it aims to re-shape the old methods of finance and banking, transforming payments through blockchain technology. XRP is a globally traded token and by joining the GBX-DAX it further extends its liquidity and reach.”

GBX-DAX was granted a full license by Gilbraltar Financial Services Commission November last year and has positioned itself to be friendly with crypto traders which is part of the government’s ambition in being a leader in the crypto and blockchain space. Ripple is among the first few digital assets listed on its exchange.

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Cisco Report: Blockchain to Transform the Business Landscape but Challenges Remain

Referred to as the “tech breakthrough megatrend” by PwC, blockchain is poised to change the rules by automating trust, increasing transparency and simplifying business processes. However, to unleash its full potential, several challenges must be addressed, according to a Cisco report.

Bitcoin Blockchain

Bitcoin Blockchain, Pexels.com

Blockchain technology has come a long way since its debut as just the technology behind cryptocurrencies. Today, all major firms are either exploring or piloting blockchain applications, which promise increased efficiency and costs savings. According to IDC, global spending on the technology is expected to reach US$2.1 billion in 2018.

Blockchain adoption and the transformation toward an era of a programmable economy is expected to deliver efficiencies and new business value in excess of US$3 trillion by 2030. This will be driven primarily by improved cash flow, asset provenance, and native asset creation, as well as new trust-based business models, according to the Blockchain by Cisco report.

Though blockchain has the potential to transform the business landscape, important challenges to wider adoption remain, says Cisco, which outlines three key challenges.

First, the firm notes the need to establish platform standards that meet the complex needs of the enterprise. In addition, today’s organizations are seeking industry-specific solutions to transform their business processes. Finally, interconnectivity of multiple independent blockchain networks is needed to unlock the true value of blockchain.

The report cites several areas that would benefit greatly from blockchain adoption. These include supply chain where blockchain can enable manufacturers to improve track and trace of components and finished goods. Blockchain can enable new applications around anti-counterfeiting, supplier and purchaser financing, or management of supply chain disruptions and recalls.

Another area is the Internet-of-Things (IoT) where the decentralized and autonomous model of the blockchain can be used as a foundation. Finally, smart cities can use blockchain to create a secure and common ledger to manage real-time data around transportation, energy, and utilities.

 

Cisco building blockchain platform

Cisco is currently developing a blockchain platform aimed at meeting desired use case requirements across different industries. The platform core consists of multiple layers, each including multiple subservices, with many customizable using pluggable interfaces.

It features a communications layer and distributed ledger, a pluggable smart contract engine that supports familiar developer languages such as JavaScript, GoLang and Python, an identity and policy layer responsible for tasks such as authentication, authorization and identity management, and an orchestration layer that ties all the other service levels together as part of a “service mesh.”

The blockchain framework is completed with end-to-end security and analytics spanning the infrastructure layer through the interface layer.

Cisco blockchain framework

Cisco blockchain framework

Beyond its blockchain platform, Cisco says it is building an ecosystem that would bring together service providers, independent software vendors (ISVs), and startups, as well as key consulting partners to create end-to-end industry solutions for the enterprise.

A primary focus for this “true Internet-scale trust network” is interoperability. Cisco says it is creating a common data model for digitized physical assets that can be deployed on any existing blockchain network, including well-known platforms in the Hyperledger project and Enterprise Ethereum.

The firm is working with several industry partners including the Trusted IoT Alliance, the Hyperledger project, the Enterprise Ethereum Alliance and the Chamber of Digital Commerce to develop standards and tools.

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Top Crypto Trend Predictions for 2019

2018 was a disastrous year for cryptocurrencies, which saw their value plunge by 80% between January and September. But as we begin 2019, industry participants remain overall confident on the future of cryptocurrencies and their underlying technology, the blockchain.

Many predict the industry will further mature this year, with several applications to debut in 2019, delivering on their 2017 promises, while others expect several of 2018’s trends, including stablecoins and tokenization, to continue their momentum.

The followings are what top crypto experts and industry participants predict will happen this year in the space:

Expect “a new bullish phase in crypto”

Fred Wilson wikipedia

Fred Wilson via Wikipedia

Prominent venture capitalist and Union Square Ventures co-founder Fred Wilson has released his annual predictions blog post in which he forecasts “a new bullish phase in crypto” fueled by the many blockchain projects set to come to fruition in 2019.

“I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows,” he writes. “I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”

“I think we will see some big name projects ship, like the Filecoin project from our portfolio company Protocol Labs, and the Algorand project from our portfolio company Algorand. I think we will see a number of ‘next gen’ smart contract platforms ship and challenge Ethereum for leadership in this super important area of the crypto sector. I also expect the Ethereum open source community to ship a number of important improvements to its system in 2019 and defend their leadership in the smart contract space.”

The making or breaking of cryptocurrencies

Arup Sen, a support lawyer at Taylor Wessing who worked for the UK Financial Conduct Authority (FCA) for five years, believes that 2019 will be the making or breaking of bitcoin, other cryptocurrencies and its underlying blockchain technology.

“After first grabbing the headlines back in 2011 with the advent of bitcoin, blockchain and cryptoassets have progressed significantly, with over 1,500 cryptocurrencies now vying for attention alongside various other cryptoasset types,” Sen told The Independent.

“But as the market and technology have grown, so has the volume of criticism and the strength of opposition. Payment specialists decry the slow processing times and high transaction costs associated with cryptocurrencies, law enforcement looks at initial coin offerings [fundraising through cryptocurrencies] as another way of scamming the public. And now the regulators are circling.”

Year of tokenization

The past years have witnessed a lot of hype around bitcoin and blockchain technologies, but in the background, a new economic infrastructure is forming, Kristjan Kangro, founder and CEO of Estonian blockchain firm Change, told The Independent. He cited the tokenization of assets which has already been changing how people invest, spend and raise capital around the world.

Echoing Kangro, Bruce Fenton, founder and managing director of Atlantic Financial, board member of the Bitcoin Foundation and co-founder of the Bitcoin Association, believes the main trend in 2019 will be securities tokens.

“The combination of the power of a distributed ledger with more standardized securities will open lots of doors in capital creation,” Fenton told Forbes. “Privacy will continue to be important. There will be an increasing gap between those with solid technology and those with weak, captive networks.”

Brock Pierce, an American entrepreneur, venture capitalist, chairman of the Bitcoin Foundation and co-founder of EOS Alliance, agrees, stating:

“A quadrillion dollar market is unfolding, driven by the emergence of security tokens. As currencies are tokenized, as bonds are tokenized, as equities are tokenized, as currencies and real estate and energy are tokenized. We are watching the birth of a quadrillion-dollar market.”

2019, a big year for stablecoins

Bitcoin Cryptocurrency, Pixabay

According to Tory Reiss, co-founder and head of partnerships at stablecoin platform TrustToken, the next wave of the crypto market will be driven by real-world value and real-world use cases.

“This is the true excitement that traders are feeling around stablecoins in 2018: the promise of trillions of dollars of value being easily accessed and traded by anyone with a smartphone, anywhere in the world,” Reiss told Inverse.

Echoing Reiss, Phillippe Bekhazi, CEO of XBTO Group, predicts that 2019 will be the year of stablecoins.

“They can also be used as a mechanism to move value around in stable terms, and technically even for payments, although the speed of the underlying blockchain may be a limiting factor for time-sensitive transactions, for the time being,” he writes in a CoinDesk post.

Blockchain will further mature

2019 should witness further consolidation in the blockchain industry, which is set to enter the next phase of maturity, according to Arianna Simpson, a venture capital and managing director at Autonomous Partners.

For Justin Sun, CEO and founder of Tron, companies with differentiated business models will begin to separate themselves from the pack in 2019. Sun told Forbes:

“For the industry to mature and gain legitimacy, the 2018 shakeout had to happen. As you’ve seen with the rise of the internet, e-commerce and just about every other big-thought thing that’s happened in the last 50 years, the gold rush days come to an end, rules get created and people settle down to do real business.”

For Malta, 2019 will be “a historic year” as the country is set to issue the first licenses, enabling blockchain and crypto operators to operate in a regulated environment, Silvio Schembri, Malta’s Junior Minister for Financial Services, Digital Economy and Innovation, told Forbes.

“2019 will see the materialization of ‘the Blockchain Island,’ firmly putting Malta at the epicenter of this industry,” Schembri said.

“We are aware where the compass is pointing, which is why blockchain technology will be incorporated into our ecosystem. In turn, we will soon start witnessing change in the landscape of how sectors as we know today operate. In fact, as a Government, we’re looking at using blockchain technology in the public sector to better the experience of our citizens.”

Blockchain in supply chain

Containers Pixabay

Containers, Pixabay

One area in particular that will likely see further adoption of blockchain technology is supply chain management. Jonathan Johnson, president of Medici Ventures and a board member of Overstock.com, expects a lot of supply chain applications to debut in 2019, providing more surety by both sellers and purchasers of the providence of goods.

“What VinX is doing in the wine business and GrainChain in the grain business, others will do in variety of industries,” Johnson told Forbes.

“And watch out Wall Street. Fintech will continue to be a major focus for blockchain use cases. Some will finally get into production and begin to revolutionize the ways securities trade.

“Blockchain will continue to be hyped as a panacea. Companies caught in this hype will waste money trying to use blockchain, where a good old-fashioned database does just fine.”

 

Featured image credit: Unsplash

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Debt Obligations Top Monetary Concern in 2019: Nummo Survey

A recent customer survey carried by leading finance management portal Nummo has brought forward monetary concerns among US citizens in the upcoming year. Conducted in the month of October, the survey has revealed that debt obligation is the number one financial concern in 2019.

The recent Nummo survey was primarily focused on gauging the major money concerns in 2019. Based on the result, 66% of respondents noted that the foremost concern for them is paying down their debts. 23% has mentioned concerns about funding children’s education.

The other concerns were retirement savings as well as caring for the elderly parent. 6% of respondents have stated they are worried about their retirement savings while 5% have noted about their concerns about caring for aged parents. The rest seemed worried about ability to meet car loans, medical bills and mortgage. While asked, some also noted about the inability to stay within budget, saving for the rainy day or unforeseen emergencies. Student loans were another chief monetary concern for some of the respondents in the survey as well.

It’s a tragic irony that although the people are the wealthiest in the whole world on the basis of per capita- they also hold the highest debt (per capita) in the entire world. In fact, Switzerland holds the #1 position in the list of most indebted countries. To manipulate its currency, the national central bank has already imposed a steep negative rate of interest of late.

But this very zero & negative-interest-rate policy has only abetted the debt quotient for the residents here. At present, the ratio of household debt: GDP has soared to a whopping 127%.

Roi Tavor

Roi Tavor

“If we check the Quarterly Report from Federal Reserve, the household customer debt in the country has risen to an alarming $13.51 trillion”,

noted Mr. Roi Tavor, the CEO and co-founder of Nummo.

“Hence, it’s not exactly surprising that the different recurring expenses like auto loans, debt from a credit card or the mortgages stand as the prime monetary burden for the Nummo users”,

he added in.

“The moot point here is to get a clear and effective idea of paying down the debts yet without getting too bogged down by them. The most important thing here is to find the ideal tools to draft a budget and follow it, save adequate money & make informed decisions regarding judicious management of financial wellness. And this is where Nummo comes to your help. Nummo’s mission is to help people overcome debt as well as be in total control of the finances.”

Market experts are also stressing on the importance of creating a budget to ensure an effective control of finances. There are different personal finance management tools here that guide the users about the effective management of finances. An even simpler way is to create a budget on MS Excel. The budget will have categories for income and for the primary, secondary and luxury expense areas. When one is in debt, it’s better to offset the luxury expenses and secondary ones as much as possible and focus on only the indispensable ones.

But creating a budget is never enough. One must be careful to follow it sincerely. Experts have also suggested to scrutiny every budget end of the month to compare the actual expenses on that month with that chalked out in the budget. One should also check the progress of his budget-based lifestyle over a period of time, say 6 months. It would be better to make a PDF document of the budget lists from these six months to ensure a coherent and easy study.

promissory noteThere are PDF editor programs that will help one to manage the PDF document. Movavi PDF Editor for Mac is one of the most reputed names here. The PDF editing tool allows users to merge files from various formats- like MS Excel, MS Word etc.- into one single PDF document.

The state of the art editor tool is a breeze to use and is able to perform all major and minor editing works on your PDF document. It allows users to rotate, crop, insert as well as scale images straight on the PDF page. The editor can also convert popular image files into PDF formats.

 

Featured image credit: Freepik

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How Switzerland Ranks in the State of European Tech Hub Study

With a pool of over 147,000 professional developers and US$788 million raised in 2018, Switzerland’s tech industry ranks tenth among its European counterparts. Zurich, Geneve and Lausanne have been found to be Switzerland’s three largest tech communities, according to the State of European Tech 2018 report.

 

Switzerland figures, The State of European Tech 2018

Switzerland figures, The State of European Tech 2018

The fourth edition of the State of European tech report, by Atomico in partnership with Slush and Orrich, draws on data from partners and a survey of 5,000 members of the tech ecosystem, from founders to students, investors to researchers, to provide a comprehensive data-driven overview of European technology today.

According to the research, Europe is home to a thrive tech ecosystem with at least 30 different hubs with 50,000 or more professional developers. Its three largest hubs for developers are London, Paris and Amsterdam which together are home to about 15% of the region’s total developers.

With nearly 100,000 professional developers in 2018, Zurich is the tenth largest tech hub in Europe.

Top European cities by # professional developers in 2018, The State of European Tech 2018

Top European cities by # professional developers in 2018, The State of European Tech 2018

The UK is the number one destination for all international movers into the European tech ecosystem with 20.9%. Switzerland ranks seventh at 4%.

Top European destinations for all international movers into European tech in 2018, The State of European Tech 2018

Top European destinations for all international movers into European tech in 2018, The State of European Tech 2018

The report notes huge geographic diversity amongst the top 20 fastest-growing tech hubs in Europe, as measured by the annual growth in attendees to tech-related Meetup events in those cities.

Zug in Switzerland, home to a growing crypto community, ranks number one as the fastest-growing community overall at 177%.

Top 20 fastest-growing tech hubs in Europe by year-on-year growth of attendees to tech-related Meetup events per city, The State of European Tech 2018

Top 20 fastest-growing tech hubs in Europe by year-on-year growth of attendees to tech-related Meetup events per city, The State of European Tech 2018

In recent years, Switzerland has emerged as a fintech powerhouse with Zug its blockchain hub. The city has been nicknamed Crypto Valley for the high concentration of blockchain and cryptocurrency startups which include the Ethereum Foundation, Tezos, Xapo, ShapeShift, and Proxeus.

A research paper by Speedinvest X and Frontline released in September 2018 ranked Zug the third city in the world in terms of startup funding volume in H1 2018, driven primarily by its rapidly expanding crypto-community.

A record year for European tech

In 2018, European tech companies raised a record of US$23 billion, up from just US$5 billion in 2013 and four tech IPOs or direct listings of European tech companies reached valuations of more than US$5 billion on opening day, including Europe’s largest ever venture-backed publicly-listed tech company Spotify, fintech firm Adyen, luxury online marketplace Farfetch, and software company Elastic. In total, Europe contributed three of the top 10 largest tech IPOs globally of 2018.

The State of European Tech 2018

The State of European Tech 2018

According to the report, Europe’s tech industry is growing 5x faster than the rest of the European economy in terms of gross value added, a pace that has accelerated in recent years. The European tech industry contributes around US$400 billion to the European economy today.

Tech industry contribution to the European economy by total GVA and % of total, The State of European Tech 2018

Tech industry contribution to the European economy by total GVA and % of total, The State of European Tech 2018

One of European tech’s greatest strengths is its deep talent pool, the report notes, which is more distributed and more interconnected than ever with some 5.7 million professional developers, up by 200,000 on 2017. This compared to the 4.4 million in the US, a number that stayed flat year-on-year.

Europe's professional developer talent pool, The State of European Tech 2018

Europe’s professional developer talent pool, The State of European Tech 2018

Germany is home to the region’s largest single market for professional developer talent, followed closely by the UK with 830,500 professional developers, and then France with 491,800 professional developers.

Moving forward, the report predicts that more European tech hubs will emerge with cities such as Cologne, Warsaw and Vienna poised to make a name for themselves. These have larger developer populations than Stockholm and active local tech communities, but have yet to attract as much investment. The report notes that there are 15 European cities with professional developer populations of 50,000+ that have seen less than US$1 billion in total capital investment since 2013.

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Revolut Gets Swiss IBAN

UK mobile-only bank Revolut has reportedly gotten a Swiss IBAN number by opening a correspondence account with Credit Suisse, according to a report by Handelszeitung. The move allows Revolut’s 50,000+ Swiss customers to transfer money to their accounts via Swiss domestic transfers, saving both money and time.

Handelszeitung however notes that Revolut does not hold a Swiss banking license, thus does not offer its own Swiss bank account numbers. This would require an account with the Swiss National Bank, which as a rule is only provided to banks that are registered in Switzerland.

 

Revolut expands globally

Revolut office, via Facebook

Revolut office in London, via Facebook

This comes at a time when Revolut is actively expanding worldwide. The company announced on December 13 that it has been granted a European banking license, enabling it to offer services typically provided by traditional banks including full current accounts, direct debits, consumer and business lending, and overdrafts. Right now, Revolut is more of a digital wallet that lets users top up in many different ways.

The Bank of Lithuania granted Revolut the regulatory approval, giving the London-based company permission to operate throughout the European Union (EU).

Chad West, a Revolut spokesman, told Bloomberg that the company chose Lithuania because the country’s “regulatory environment is incredibly fintech friendly.” He also said it was faster to get licensed in Lithuania than many other European jurisdictions. Revolut has 150,000 customers in Lithuania.

London has been a hotbed for fintech startups but the impending withdrawal of the UK from the EU has pushed many of these companies to seek licenses from other European jurisdictions. Once the UK leaves the EU, British financial companies will no longer have the right to “passport” their regulatory approvals to other European jurisdictions.

CEO Nikolay Storonsky told CNBC the company plans to apply for a UK banking license as well, in part because of uncertainty around Brexit. “If we feel a ‘hard Brexit’ happens, we’ll definitely need to have a license here,” he said.

Revolut expects to roll out new features in the UK, France, Germany and Poland. The company has said it will offer commission-free equity trading in the UK and Europe within the next year.

Revolut announced in November it has been granted licenses to operate in Singapore and Japan, marking the beginning of its expansion into Asia. The company plans to launch in Q1 2019 and already more than 50,000 people have signed to the waitlist.

Storonsky said he hopes to launch in the US in 2019, as well as Canada, Australia and New Zealand.

Founded in 2015, Revolut offers digital banking services including prepaid debit card, current account, cryptocurrency trading, and foreign exchange transactions. The company serves more than 3 million customers and claims it is opening between 8,000 and 10,000 current accounts every day. Users generate $4 billion in monthly transaction volume.

In April 2018, Revolut closed a US$250 million funding round that brought its valuation to US$1.7 billion. According to the Times of London, the company is in talks with Japan’s SoftBank to raise a fresh round of funding worth as much as US$500 million.

Revolut is part of a growing list of digital banks that have secured banking licenses as fintech startups take on incumbents in the financial services sector. These include UK’s Monzo and Starling which have both secured banking licenses in the UK, Germany’s N26, which received its European license in 2016, Swedish payments company Klarna, which won a full banking license from Finansinspektionen, the Swedish Financial Supervisory Authority, in 2017, and Dutch payments firm Adyen, which was awarded a European banking license in 2017 by the Dutch Central Bank.

 

Featured image: Revolut banner, via Facebook

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Avaloq Doubles Down on Open Banking with Its Latest Solutions

With the deadline looming for financial services firms to be fully compliant with the Payment Services Directive II by September 2019, Avaloq is gunning to capitalise on the rush with its latest solution.

According to its press release this new solution has a wide range of deployment options tailored to different configurations which comes already integrated with its existing core banking and digital banking software.

PSD2, which came into force in January 2018, regulates payment services and payment service providers throughout Europe. For the first time, it will allow with consent, third parties to access customer data to provide value-added payments and banking services.

Under the implementation process, institutions will have to offer their open Application Programming Interface (APIs) to third-party providers for testing and integration six months before the final implementation date of September 2019. This means that their APIs must be ready from March next year.

A study by Accenture estimated that by 2020, EUR61 billion of the total banking revenue pool in Europe (equivalent of 7 percent) will be associated with open banking-enabled activities.

A separate survey of 90 European banks by Deloitte found that about half are planning to use PSD2 to become an Account Information Service Provider, which lets customers see all of their account information from different bank accounts in one place online or in a mobile app.

 

Featured image credit: Avaloq

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Swiss Money Transfer Comparision Page Monito Raises $2.5 Million Led by Tamedia

Monito, the Lausanne-based comparison website for international money transfer services, has raised US $2.5 million in Series A financing led by Tamedia, Switzerland’s leading private media group.

B&Y Venture Partners, Silicon Valley-based serial fintech entrepreneur Alexandre Gonthier, as well as historic investors, also participated in this round.

Monito helps individuals and businesses find, compare and review the best money transfer provider for their needs out of the hundreds of available options across more than 190 countries. The comparison website has already been used by millions of people from all over the world and currently employs about 7 staff members.

François Briod, co-founder and CEO of Monito:

François Briod

François Briod

“We’re extremely grateful and excited by the support received from historic investors, and are looking forward to welcoming new investors joining us on our journey to make the money transfer industry more transparent for the better. We’re very much looking forward to collaborating with Tamedia, and  – among other things – benefitting from their strong expertise in digital marketing and growing online marketplaces. ”

The company intends to use these funds to extend its international audience and raise more awareness regarding the huge potential savings of comparing money transfer fees. Monito will start hiring new software engineers, designers and digital marketers to complement its current team and boost its expansion.

Samuel Hügli

Samuel Hügli

Samuel Hügli, Member of the Management Board and Head of the Technology & Ventures Division at Tamedia:

“Following our investment in the blockchain-based Lykke marketplace, Monito is another addition to our fintech portfolio. As a company, we intend to learn more in this area, and I’m already looking forward to exchanging ideas with the highly experienced Monito start-up team.”

Tamedia recently also invested into Lykke. Both companies have been named by Fintechnews times several times as the top Fintech Startups to watch.

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36 Startup Accelerators für Deutschland. Übersicht, Linkliste und Grafik

Der Deutsche Blog “Paymentandbanking” hat eine sehr hilfreiche Übersicht der 36 wichtigsten Deutschen Startup Accelerators auf dem deutschen Markt zusammengestellt.

 

Infografik German AcceleratorLinkliste

 

 

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