“Lending and banking are converging.” Lendit Fintech Europe 2019 returns to London as the definitive event for fintech leaders to connect and reimagine the future of finance. Here are the five hottest Lendit topics for banks and lenders that has out team excited!
“A massive 99.9% of the 5.7 million businesses in the UK are small or medium-size businesses (SMEs)”. Yet despite being a crucial contributor to the UK's economy, business owners still face considerable obstacles when it comes to financing, including higher risks associated with smaller-scale activities, sizeable transaction costs, a lack of collateral and information asymmetry between investors and entrepreneurs.
Ayan Mitra, Founder and CEO of CODE Investing, one of the UK’s leading alternative debt finance marketplaces for SME business loans will be discussing the building of a new paradigm for SME lending with Stéphane Blanchoz, the Head of SME Alternative Financing at BNP Paribas Asset Management, as part of the “Lending Innovations” theme cycle. Moderated by Therese Torris, Senior Contributing Editor at Crowdfund Insider.
Meet Nordigen sales team Kristaps, Marta and Oskars at Lendit Fintech! Get in touch!
Treezor started out as an open banking powered fintech - a core banking platform that facilitates payment management for traders, collaborative platforms and banks as well as credit institutions and neo-banks. In 2019 the company was acquired by the Société Générale Group, with Treezor's founder Eric Lassus remaining on as the Managing Director.
This is indeed a classic open banking love story - a bank and fintech meet, both see value in potential collaboration and decide to merge. Partnerships like these set a clear example of the mutual benefits of such a union. But what about the challenges? The ups and downs of not only working, but also prospering together?
Société Générale's Claire Calmejane and Treezor's Eric Lassus will take the stage to hopefully share a full account of their collaboration, learnings as well as a common vision moving forwards.
The ECB reports that the total value of fraudulent transactions in the EU amount to €1.8 Billion annually, which can have a significant impact on consumer lending. Not only does lending fraud increase risks and raises interest rates for all borrowers, it also negatively impacts consumer credit history.
In their panel, Kedar Samant - CTO and senior director of Simility (acquired by PayPal) and John Erik Setsaas, the VP of identity and innovation at Signicat will be joined by Rabobank's Rabo eBusiness product manager Daan van den Eshof. With combined experiences on innovation, security and business development, this panel is sure to deliver valuable insights on why companies wishing to succeed need to stay ahead of the digital wave. Moderated by Nicolo Petrone, European head of MEDICI.
“The global market for POS terminals reached $62.34 billion in 2018,” and experts further predict it to “grow at a CAGR of 7.8% from 2019 to 2025,” according to Grand View Research. The rise of open banking powered income analytics can further expedite the process of point-of-sale lending.
However are banks and fintechs capitalising on this opportunity? Reporting on JPMorgan Chase moving into the point-of-sale financing market in March, Forbes contributor Ron Shevlinwrote that “many banks and credit unions missed the shift in consumer behaviour” and that “JPMorgan Chase's move [...] should be a wake-up call for the rest of the industry.”
The fireside chat will feature Christer Holloman, CEO of Divido - a point-of-sale finance platform, Kristina Salemyr, Head of Retail Finance at Nordea Finance, moderated by Tony McLaughlin, Emerging Payments and Business Development at Citi.
The worldwide revenue for big data and business analytics solutions is expected to reach $260 billion by 2022. In this session, Plaid’s international lead will discuss how fintechs can create a lending lifecycle that’s faster, easier for applicants to navigate, and improves decisioning.
Open banking has powered fintechs to leverage account data to help banks, lenders and challengers offer their consumers better financial services. But raw data alone is insufficient. By turning raw account data into valuable insights, data analytics companies can help financial institutions improve the speed and accuracy of their lending decisions.
Here’s what we've been up to recently.
In recent years, tech giants like Apple, Google and Amazon have started planting flags in the financial sector, intruding on traditional financial institutions. Facebook is finally joining the race with Libra, its digital currency described as a “simple global currency and infrastructure that empower billions of people.”
As a society, we are gradually moving away from paper cash, increasingly gravitating towards alternative digital payment methods - contactless-cards, cryptocurrency, mobile and wearable technology. Regulatory driven initiatives like EU's PSD2 and UK's Open Banking are propelling financial innovation and enabling the emergence of new products and services.