Vincent Bastid, CEO of Efma explores the future of financial services. Fintechs are at the forefront of innovation in the financial industry, there is a great opportunity for banks and insurers to partner and leverage their expertise to reinvent financial services. Hear about two successful partnerships.
Reinventing Financial Services: A Banking and Insurance Partnership
1. To the endorsing partners
SPECIAL THANKS
Fintech
Reinventing financial services
2. 2
Who we are
Efma is a non-profit association created in 1971 by bankers and insurers.
It brings together more than 3,300 retail financial services companies from
over 130 countries all around the world:
And many more on www.efma.com/members
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3. 3
Fintech market key figures2
• Global fintech investment in the first-quarter
of 2016 grew 67 percent year-over-year to
$5.3 billion; 62 percent of investments went
to ventures in Europe and Asia
• Funding is booming: almost US$14 billion in
the last 12 months from less than US$1
billion in Q2 2010 to US$3 billion in Q1 2015
• There will be close to US$100 billion invest in
fintech so far
• 50 fintech unicorns around the world and
more than 20,000 fintech start-ups globally
• The top ten privately funded fintechs
represent almost US$50 billion in market cap
4. 3 Successful partnership between
Santander UK and Kabbage
Santander Working Capital Loans
• Working Capital Loans - Provide business
credits with fast and secure access to funds
of up to £100,000 within minutes
• This approach, alongside the technology
provided by Kabbage in this space, has
helped to get the proposition live in less than
9 months
• Use Big data and APIs – customers able to
link their main business current account
during the online application to view the
transactions and make lending decisions
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5. LaFinBox
• Swiss Life - A leading European provider of
comprehensive life and pensions and financial
solutions
• Budget Insight involved for technological matters -
aggregation of bank accounts technology
• LaFinBox, a global vision of all his accounts
(checking accounts, credit cards, loans, booklets,
employee savings, life insurance, …) balances,
historical, detail and categorization of
transactions and investments
• Investment performance tracking; Push /
emails alerts to manage his savings; A simplified
graphical view of his savings, income and
expenditure
3 Successful partnership between
SwissLife and Budget Insight
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1. https://newsroom.accenture.com/news/global-fintech-investment-growth-continues-in-2016-driven-by-europe-and-asia-accenture-study-finds.htm
4. Unicorn: A unicorn is a start-up company valued at over $1 billion.[1][2] Canadian tech unicorns are known as narwhals.[3] A decacorn is a word used for those companies over $10 billion,[4] while hectocorn is the appropriate term for such a company valued over $100 billion. According to VentureBeat, there were 229 unicorns as of January 2016.[5] The largest unicorns included Uber, Xiaomi, Airbnb, Palantir, Snapchat, Dropbox and Pinterest.[6] As of October 2015, Uber was valued by Fortune at US$51 billion.[4][7]
The 24 fintech 'unicorns' worth over $1 billion ranked by value: http://uk.businessinsider.com/the-25-fintech-unicorns-ranked-by-value-2015-7/#24-mozido-a-mobile-payment-and-wallet-provider-1
5. The top ten privately funded fintechs represent almost US$50 billion in market capitalization: Powa Technologies/ Lufax/ IHS Markit/ Klarna/ Lending Club/ Credit Karma/ Stripe/ CommonBond/ Zenefits
To learn more about the case study: https://www.efma.com/innovations/innovation/santander-working-capital-loans/
To learn more about the case study: https://www.efma.com/innovationininsurance/innovation/lafinbox/