Deutsche Börse partners with leading FinTechs to launch FinTech Acceleration platform

Deutsche Börse Group and its post-trade services provider Clearstream will partner with Germany-based FinTech figo and Luxembourg-based RegTech start-up Finologee to create a common FinTech Acceleration Platform. The launch is targeted for the fourth quarter of 2018, subject to regulatory approval.

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“Liquidity bottlenecks belong to the past.” Factoring provider Rechnung48 talks in our #figoInside interview

Factoring becomes easier – thanks to figo partner Rechnung48

This time, Matthias Bommer, Managing Partner of the Elbe Finanzgruppe and founder of the Dresden factoring company Rechnung48, joins us for the #figoInside interview. The startup, founded in 2014, offers freelancers, small and medium-sized companies and the self-employed an opportunity to pre-finance outstanding money from commercial customers quickly and easily – thus improving liquidity. The following interview will show Matthias Bommer‘s opinion about FinTechs, what advice he would offer bank CEOs and how figo makes factoring even easier.

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EXEC 2018 Recap: Podcast of the Offsite Event hosted and recorded by Spotcap

Round Table: The Future of Financial Services

Spotcap Roundtable Discussion EXEC 2018

© Spotcap

 

You missed the round table discussion about the future of financial services during the EXEC 2018? Or you want to listen to it again? Spotcap recorded and published the podcast & we are happy to share it with you! Tune in!

 

 

Who were the panelists?

  • André Jerenz (Associate Partner, McKinsey & Co)
  • Julian Riedlbauer (Partner, GP Bullhound)
  • Nadja Schlössel (Head of Product Strategy, figo)
  • Milos Spiridonovic (Head of Startups@Berlin, Deutsche Bank)
  • Jens Woloszczak (Founder and CEO, Spotcap)

The discussion was moderated by Nadine Schimroszik, IT correspondent at Reuters.

What were they talking about?

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The figo Bankathon is getting its own spinoff: BANKATHONx

figo is making it possible for banks, companies and anyone interested to organise their own FinTech hackathon tailored to their individual requirements: the BANKATHONx!

Want to increase awareness of your company? Make yourself known as an attractive employer? Become a master of innovation? Form new alliances?

👉 You can do all this and more with your own BANKATHONx. figo will design the event according to your aims and tailor it to your corporate strategy. Additionally, our team will support you with the organising, acquiring participants, marketing and implementation. As the host of a BANKATHONx, you’ll benefit from a well-known brand and attract the attention of an entire industry.

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figo talks PSD2 #10: How Open Banking will change the world!

How Open Banking will change the world

 

Let’s talk about how Open Banking will change the world!

In the 10th episode of ‘figo talks PSD2’ we are talking with Ashley Groom (Global Expansion | GoCardless), Duncan Barrigan (Head of Product Management | GoCardless)  and Nadja Schlössel (Head of Product Strategy | figo). Tune in and stop the confusion with different understandings of Open Banking!

 

We are talking about:

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#figoInside: easybill introduces its cloud-based online billing software

The beginning of our #figoInside series this year will be our partner easybill. Based in Kaarst near Dusseldorf, the company’s mission is to make life easier for its customers with a cloud-based online billing software: From invoicing and recording of incoming payments to automated accounts receivable management – easybill has thought of everything that saves time and nerves for the entrepreneurs.

The founder Philipp Gesell tells us what he thinks about FinTechs, banks and PSD2, how he came up with the idea of easybill and how users benefit from figo’s technology in the #figoInside interview!

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‘Licence as a Service’ – PSD2 solution powered by figo

With RegShield, figo plans to help third parties with new authorization requirements

13 January 2018 was the day that the PSD2 became a reality and thus EU member states must comply. In addition to this, BaFin confirmed it on 5 December 2017 as part of the conference “Payment services in the field of digitalization and security needs”: ‘Licence as a Service’ models are basically possible under the Payment Services Directive 2 (PSD2)! This means: companies that offer or use payment initiation and account information services (PISP/AISP) today can also seek a regulated partner for this purpose under certain circumstances. For 2018, figo is aiming for its own payment institution licence (PISP and AISP) and plans to be a reliable ‘Licence as a Service’ partner in the market with the service product ‘RegShield’. figo partners will not have to apply for their own authorization!  (more…)

How banking data contributes to financial inclusion with regard to credit provision

“Is there a right to credit?”, Maria Lissowska (Senior Expert, European Commission) asked at the beginning of the “Panel 3 on Credit”. Well, obviously there’s no written right to credit, but it’s also obvious that the opportunity for a credit is a big contributor to financial inclusion. However, the opportunity for a credit depends largely on the consumer’s creditworthiness. The question should therefore be in the future, how can creditworthiness be reflected by the financial reality of the credit applicant and thus promote financial inclusion?

Instead of often incomprehensible and intransparent credit scores for consumers, banking data itself provides the necessary data for the evaluation of creditworthiness. Because in the sense of data minimisation, the question should be which data is actually needed for the credit decision. Furthermore, the financial reality of a credit applicant is not correlated to market data as the basis for credit scores because every single person applying for a credit is an unique case.

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figo’s updated PSD2 | RTS Progress-O-Meter (Infographic)

figo's updated PSD2 | RTS Progress-O-Meter (Infographic)

figo’s updated PSD2|RTS Progress-O-Meter (Infographic)

 

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Bankathon #5 Berlin: #ChatSurance triumphs, everybody wins

#ChatSurance shows the possibilities of ‘Open Banking’, combines FinTech with InsurTech and walks away from the Bankathon stage as the winner

Combination of various APIs and inclusion of ‘Alexa’ impress jury

Bankathon #5 Berlin © www.mike-auerbach.com

© www.mike-auerbach.com

figo has done it again: For the fifth time, the Hamburg-based FinTech company has put on the banking and FinTech hackathon. Venue: Berlin. Wear and tear? Nowhere to be seen! The fact that the Bankathon is established as a neutral platform in the financial sector, bringing together the most – and we mean the most – diverse players in the industry, particularly shines in this fifth edition. Banks, industry associations, payment providers, initiatives, credit bureaus, company builders, consultancies and cloud providers were among the sponsors and supporters. 20 teams from different nations addressed the topic “PSD2 & … ?!”. In the end, their prototypes had to be found within the topics of Health, Identity, Insurance, SME or Travel.

See the video from the Association of German Banks “Bankathon #5 in 60 seconds” (German):

https://www.youtube.com/watch?v=DNdv8jxO-T0

Here you can look at and download our detailed Bankathon #5 recap presentation:

Dropbox link

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