Discover and read the best of Twitter Threads about #Fintech

Most recents (24)

Problemas de #UX de #DEBIN #CREDIN #CASHIN via #PRISMA, hilo...
Uno está en su #homebanking, y quiere, ponele, usar este maravilloso nuevo sistema #DEBIN para mover guita a su #Uala (u otra cuenta) en forma instantánea, q es la gracia de este sistema -y que, ojo, funciona!. Ej en #Itau
Transferencias-> A cuentas Virtuales.
1er error: el sist de PRISMA permite no sólo mover plata a ctas virtuales (con CVU c v corta) sino como veremos más abajo,también a ctas bancarias tradicionales con CBU (c B larga :)
O sea, el menú de Itaú es confuso, deberia ser
"transf y solicitudes instantáneas"(DEBIN-CREDIN)
Read 18 tweets
1/: @bharatpeindia is bringing millions of small merchants on to the #digital payments ecosystem for the first time. Their goal: to become the largest enabler of free offline #payments and provide a one-stop platform for all #financial commerce solutions.
2/: Through a unique 30 second on-boarding process, @bharatpeindia has already reached a 1.7 Mn user base. 4 Mn+ #merchants will be using the platform by FY 2020.
3/: There are 50 Mn merchants in India, a vast majority of whom are underserved by #banks and #NBFCs. The credit gap in the market is ~$400b. This is the opportunity the company is going after.
Read 6 tweets
Wrapping up a week long stay in the Bay Area. Thanks to all the founders, VCs and others in the #fintech community that took time out to meet.

Here are my key learnings (including one massive shock):
It's become clear that there are two key reasons why there is such a density of successful #startups here:

First up: A bias to optimism
Everyone seems optimistic. VCs in the Bay talk about the size of the opportunity and what needs to go right for something to work out, vs European VCs that focus on metrics and risk.
Read 14 tweets
Believe me! Your mobile phone activity now decides if you get a loan.

New age Fintech companies are using your mobile/internet trails to decide if you are worthy of getting a loan. Will you now think twice before hurling an abuse on Twitter or downloading a 'free' App? 1/12
More and more lending companies (Banks, NBFCs etc) are deploying powerful data analytics tool to judge the credit worthiness of a loan applicant.

So next time you wish to buy a TV on EMI, see what you've been asked to fill in an application form. It all starts from there. 2/12
Your phone number, picked up from the application form, tells the following things about you to the lender -
a) Location of your residence and office addresses.
b) If you are paying your bills on time or have you been missing your payment dates (through SMS alerts). 3/12
Read 18 tweets
1/3 #GigFair is an exciting new platform launching in 2019 that will allow anyone in the world to work in the global digital economy.
#electroneum #etn #blockchain #fintech #crypto #cryptocurrency #Criptomonedas #massiveadoption #bitcoin #btc #tothemoon #hold
2/3 "Gigs" are items of digital work, carried out remotely. The current global digital economy is estimated to be over $4 trillion US dollars per year, yet the current global gig economy is staffed almost entirely by individuals who have a bank account.
3/3 The concept is simple. By allowing customers to buy "gigs" with their credit cards in USD it makes it easy to buy work. These funds are cleverly converted into ETN (a mobile cryptocurrency called Electroneum) and transferred to the worker carrying out the "Gig".
Read 3 tweets
GTB has released its results for the 1st half of the year.
And we crunched the number for you.
Pls grab a seat

GTB made N120 Billion interest income and 28% of that income is from assets like Treasury Bill.

A whooping N35 Billion came from investing in Treasury Bills etc
Although about N1Trillion was given out as loans to customers. Similar number as at June 2018 and June 2019

The interest on loans to customer as at June 2018 compared to June 2017 dropped by N10 Billion

Timing of when the loans where given out might have played a role here
It also made a whopping N5 Billion on maintenance charges and another N5 Billion on corporate finance fees
It’s e business income doubled to N6 Billion within 1 year

GTB makes N26 Billion on fees and commission income
Similar in size to 20% of its core revenue driver
Read 6 tweets
(1/7) What roadmap should #fintech take in the future? Huang Qifan, academic advisor of CF40 and Vice-Chairman of CCIEE shared his insights on P2P and Internet finance on CF40 Yichun Forum.…
(2/7) Huang said “In recent years, under the cover of internet finance, #P2P has successfully attracted savings from netizens with de facto high-interest loans. Repay the debt with new lending through cash pooling has resulted in a host of Ponzi schemes under the internet system.
(3/7) Either #TechFin or #FinTech doesn't and won’t overthrow fundamental principles of traditional finance and financial security. In this regard, we should not only exert the #digital platform to the utmost, but also stick to principles and ideology of modern finance.
Read 7 tweets
The question for the #ethereum community is, how do we do #defi without creating another ICO boom and bust like #YOLO situation... IMO the main cause of current eth/btc price being out of whack with the immense technical progress in and around eth over the last two years.
#bitcoin is overpriced because there's been very little technological progress. But finance isn't just about technology. It's also about trust. #bitcoin is overpriced vs better tech including #ethereum BECAUSE nothing changes, same as the UK and US high street banks.
Finance isn't the best space to move fast and break things. Alright it isn't health care or space flights and #innovation is never risk free but its important for the community to call out things that don't make sense…?
Read 31 tweets
Thread: Some interesting tech stories I read today. #TechDB /2

💰 India's #fintech investments fell by 50% to 300 million in H1 2019, according to KPMG…
♎️ #Libra has to prove itself by winning in India says, @huwsteenis. India is Facebook's largest market, it has cracked identity via #Aadhaar, has a large remittances market, hugely competitive & against cryptocurrencies…
💉One year on, Congo hasn't found an answer to #Ebola outbreak. It's not about science but people. There is a vaccine. But half the people in the zone don't believe Ebola exists and they don't trust aid workers #podcast 🎙️
Read 7 tweets
As usual, I bring you good news😁

Few months ago, a trusted friend in Lagos asked me what I did with my idle money. I told him I leave it in my bank account and just spend whenever I need to.
This friend introduced me to a company that created Africa’s first treasury bills investment app which has generated about 2 Billion Naira worth of investments from its active users in less than 6 months. This immediately caught my attention.
My friend assured me that using the app created by this company guarantees a risk-free secure investment. Of course, I was a little sceptical, but since I trusted him and I had about N2.5 million I wasn’t using at the time, I decided to invest with this company using the app.
Read 11 tweets
Yine raporlar okundu, makaleler sular seller 🤦‍♀️ #Teknoloji konusunda önümüzdeki dönemde en fazla #yatırım hangi alanlara yapılacak? 2020 yılında yine burada hangi konuları konuşuyor olacağız? Yuvarlak cevapları bir kenera bırakalım ve nokta atışı gidelim hadi 🔥 #tech #trends
1/ Yapay zeka ve kişiselleştirilen süreçler @Adobe 2019 Trendler Anketi'nde yine ilk sıraya yerleşti 🧠 Markaların yönlendirmeleri ile kullanıcı deneyimini geliştirmenin en sağlıklı yönteminin #AI tabanlı veri yönetimi olarak değerlendirildiğini görüyoruz!
2/ @IDC (Uluslarası Veri Kurumu) raporuna göre şirketler henüz sonuç alamadıkları #blockchain'e milyonlar harcamaya devam etmeye istekli 💸 2019 yılında $2.9M'u bulması beklenen harcama 2022'ye geldiğimizde $11.7M'u bulacak 🙆‍♀️ #cryptocurrency #technology…
Read 10 tweets

Steps for using a budget as a tool to align your use of money with your values.

I call it Aligned Spending™️

(™️=kinda joke...)


Step 1: spend money. This part is easy. Just spend as you normally would.

Step 2: review each transaction. This can be done daily at first, or weekly. Download each transaction using #fintech and go to step 3.

I have tool I’ve used if interested.
Read 12 tweets
1/ La présentation du "libra" de @facebook a pris tout le monde de court. Je vous ai préparé un petit thread pour vous récapituler toutes les infos à retenir sur cette crypto inédite qui devrait être disponible en 2020 👇 #Libra #facebook #zuckerberg #bitcoin
2/ Le projet "libra" est crucial pour @Facebook. Le groupe, dont les revenus viennent à 98% de la pub, doit se diversifier après les scandales à répétition sur l'exploitation des données personnelles (Cambridge Analytica) #libra…
3/ Facebook a commencé (au moins) dès 2017 à travailler sur le "libra". Début 2018, Zuckerberg a officialisé la création d'une équipe blockchain. Il a mis à sa tête @davidmarcus, le patron de Messenger, qui a piloté le projet depuis le début #libra…
Read 15 tweets
We know that financial crises come from innovations of short-term bank/bank-like debt that move outside of/more quickly than the regulatory regime. So, where might the next one come from? A case for the answer being right there in the name: #FinTech. An ongoing thread...
Many firms providing digital payment services have large cash balances attributable to their customers who have left money “in” the app for ease of use. This cash is often deposited in banks with interest accruing to the firm...
...This muddies the picture of short-term funding for bank regulators and provides an extra link in the chain that can leave the financial system vulnerable to runs. There are several possible mechanisms...
Read 18 tweets
1: The global banking industry is showing signs of renewed health:

i. Deep capital reserves-Tier-1 capital is at decade-high ~12.6%.
ii. High liquidity: Loan-to-deposit ratio fell to~90%, as comp. to 120% in 2007
iii. Innovation: Investment in digital capabilities & partnerships
2: Banks have taken an axe to costs, yet profits remain elusive (falling ROE and P/B Multiples), leading to depressed valuations.

The unstoppable march of ‘Four Horsemen’ —Disintermediation, Commoditization, Unbundling/Rebundling, and Invisibility— continues.
3: Technology is breaking up traditional value chains into new stacks.

—Traditional Model: Banks vertically integrated. Competition between banks with similar offerings.
—New Model: Modularization. Specialized service providers compete on product innovation and distribution.
Read 12 tweets
A talk by @kunalb11 on fintech(or not) for the @CFAinstitute
Spent the sunday evening learning about the ever-changing world!

Sharing some takeaways in the below thread.
Also, he's the founder of @cred_club!
Try it,here's the link:
High contribution of women is the only way per capita income of any country will shoot up.
Bangladesh has seen a rise in the no working women and is far ahead of India! (shocking stat) (2/n)
Every home has a CTO. He/she is generally in 14-18 age bracket. Guides the family on adoption of tech and apps. Slowly but steadily that person is becoming the Chief Procurement Officer as well. (3/n)
Read 32 tweets
My @eversendapp experience has been smooth…

I have loaded it on my rooted #Android phone with #LineageOS 16.1, uploaded by identification for KYC and was verified within minutes…

I was so shocked that it had happened so fast, I am feeling the slacker
@eversendapp Why install the app, needed to make a payment to a service provider in Kenya and was stuck without a way to do it from my current location
@eversendapp The next steps were soooo smooth

1. Added a Visa card, which was charged for verification process

2. Loaded funds, converted to KES in 2 clicks…. The exchange rate was very close to what Google and XE gave me (as compared to my bank)

#FinTech #4IR
Read 7 tweets
#Bigdata vs Machine Learning vs Artificial Intelligence
By Irene Aldridge
☝️author High-Frequency Trading: A Practical Guide to #Algorithmic Strategies& #Trading Systems
☝️co-author Real-Time Risk: What Investors Should Know About #Fintech,#highfrequencytrading and FlashCrashes
1. ☝️🧐➿🔢 In traditional #statistics or #econometrics, researchers make assumptions about #data distributions ahead of the analysis
2. 🥇💪#machinelearning = the 1st discipline to apply #efficiency to #problemsolving brought by #computers & their enhanced computational power
3. 🤗➿🔢#ML scientists try to reduce #assumptions about the data as much as possible&let the data (&computers) decide what fits best.
4. ♾➡️🔤🌐#Datascience identifies core characteristics of the data, summarized by what has been known as #characteristic values (#eigenvalues)
Read 6 tweets

Ayer la CIMPRA lanzó su Boletín 519 cobre "Cheques generados por Medios Electrónicos (#ECHEQ)".

Esto SÍ que será una #REVOLUCIÓN en los medios de pagos argentinos
(Va hilo c/mini detalles)
1/ El 01/10/2018 la Comunicación SINAP “A” 6578 del #BCRA impuso que el #ECHEQ no reemplazaría al físico, pero que entidades financieras debían habilitar "medios electrónicos para su libramiento, aval, circulación y presentación al cobro" en 180 días…
2/ Como todo era muy nuevo, pionero y complejo, la Comunicación SINAP “A” 6655 del 1/03/2019 luego pasó el deadline del 01 de abril de 2019 al 01 de julio de 2019.…
Read 8 tweets
🔴 #Software is eating the world, and it’s only the beginning

#ArtificialIntelligence #AI #MachineLearning #ML #FutureOfWork #Robots #Technology #Disruption

🔴 #Software is eating the world, and it’s only the beginning

#ArtificialIntelligence #AI #MachineLearning #ML #FutureOfWork #Robots #Technology #Disruption

Emerson, Lake & Palmer - From The Beginning (Live)

Read 11 tweets
London On Track To Become #Global #Fintech #Hub
by @thefintechtimes

🦄#Unicorn=a #firm with >$1 billion #market #capitalisation
🦄29 fintech unicorns worldwide
🦄9 in #SanFrancisco AND 7 in #London
2018 #income #growth increase:
💪£77.1m -> £177.6m #revenue
☝️2018 #job creation : 61% increase
☝️#Salary inflations for #IT pros: 6-8%

#ai #artificialintelligence #crypto
☝️#EU #venturecapital:
1. #London 39%
2. #Berlin 21%
3. #Paris 18%
4. #Stockholm 5%
5. #Barcelona 4%
6. #Amsterdam 4%
7. #Zurich 3%
8. #Copenhagen 2%
9. #Dublin 2%
Read 5 tweets
Stung by Big Fines, Big Banks Beef Up Money-Laundering Controls
By Yalman Onaran (Bloomberg)

The tech-race:
☝️New tech allow regulators better AML detection but then forces banks to use even better tech to detect before the regulators

Measures by HSBC
HR👉 HSBC quintupled the number of AML employees to 5,000 (2012-2016)
Tech👉upgraded its #Fintech #technology (#MachineLearning scanning transaction data)
Lobby&learn👉in 2016, hired Jennifer Calvery, the U.S. Treas.Dpt’s top #AML official who fined HSBC in 2012.
👉9 big banks paid a total of $20 billion (2012-2015) for lax AML controls
👉 clients evade taxes or violate U.S. sanctions
👉most of the settlements came with deferred-prosecution agreements and outside monitors
Read 7 tweets
0/ 🔷 Hi all! Got a fresh 14-part thread on all you should know from the crypto and blockchain space over the past 24 hours. Let's get into it.
1a/ ❌ Well, it's official. Crypto mining behemoth Bitmain has officially failed their attempt to IPO on HKEX; announcing today their September 2018 listing application "has reached its 6-month expiration date."…
1b/ 👔 Bitmain also confirmed other rumours that'd been circulating recently: that Haichao Wang has been promoted to CEO. Co-founders and (now) former co-CEOs Micree Zhan and Jihan Wu will continue on as directors, but will not be involved in Bitmain's day-to-day operations.
Read 17 tweets

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