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Fintech

FinovateAsia Digital 2021 Sneak Peek: QuickFi

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A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

QuickFi allows business borrowers to obtain low, fixed rate business equipment term-loans in minutes, instead of days or weeks. The borrower completes the loan process on a mobile device, 24/7/365.

Features

  • Flexible platform integrations for global manufacturers, serving direct, dealer, and ecommerce sales channels
  • Stated, fixed interest rates with no hidden fees
  • 24/7 equipment financing in three minutes

Why it’s great
The QuickFi platform is designed to dramatically improve the business borrower experience by enabling self-service, transparent, digital financing available 24/7/365 with no fees and no hidden costs.

Presenters

Nathan Gibbons, COO
Gibbons is COO of QuickFi and oversees the platform’s operational strategy, leveraging automation and technology to enable dramatic improvements to the borrower experience.
LinkedIn

Jillian Munson, Technology Project Manager
Munson leads core technology projects at QuickFi. She develops seamless user experiences for both internal and external business processes.
LinkedIn

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Source: https://finovate.com/finovateasia-digital-2021-sneak-peek-quickfi/

Blockchain

Crypto fintech Centbee selected for regulatory sandbox

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YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Blockchain

Crypto fintech Centbee selected for regulatory sandbox

Published

on

YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Crowdfunding

Fintech Veteran Frank Rotman Talks Building Wealth with Investments, Real Estate, Business Ownership

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Frank Rotman, who claims to be a 27+ year Fintech veteran and the Co-founder of QED Investors, notes that small businesses are quite important to our communities.

Rotman points out that minority-owned small businesses do not have equal access to capital and the appropriate tools. He also asks whether this is solvable.

Rotman adds that we have all heard about how SMEs are considered the “backbone” of the US economy. He reveals that a quick review of the facts shows that this statement is “very much true.” At present, there are numerous registered SMEs that employ millions of people across the country, Rotman confirms.

He adds:

“While it may seem like big companies hold all the power, it’s undeniable that SMEs play a critical role in their success. Smaller firms supply critical goods and services to big companies. They’re customers of big companies. And they’re catalysts for innovation and change. Without SMEs, our daily lives wouldn’t be the same. Small Businesses are at the heart of Main Street and foundational to how we operate as a country. And it shouldn’t be overlooked that when you buy from a Small Business, an actual person does a happy dance.”

Rotman claims that the good news is that “new business formation isn’t slowing down.” It is actually speeding up, he adds while noting that numerous SMEs are launched every year. He points out that the impact of the COVID-19 outbreak during 2020/2021 may be seen and is verifiable by examining the relevant data. He adds that significantly more people are now wanting to “be their own bosses” and a lot more are also interested in owning their own business.

Rotman adds:

“@HelloAlice is tackling this problem head on. Their service helps SME owners access financial resources, source free business education, find new customers and interact with helpful fellow SME owners. Their goal is to improve the success rate of their members. And the mission is a noble one, especially with regards to the role small business ownership has on closing the gap of wealth inequality.”

Rotman further notes that out out the primary pillars of building wealth (investments, real estate and business ownership), “two require large amounts of initial capital to be put to work as a starting condition for the strategy to work” and from there, compounding “does its magic over decades.”

He adds that in contrast, business ownership is “a path to self-sufficiency and wealth fueled in large part by grit and determination.” He also acknowledges that launching a business “isn’t free, but there are many “capital light” and “capital efficient” businesses that can be assembled and started easily.”

Rotman clarifies:

“This by no means suggests that starting a business has been universally solved or that the startup world is one of equality and fairness. The opposite is true. Sourcing and procuring startup and working capital for local and minority owned businesses is a major issue.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/176686-fintech-veteran-frank-rotman-talks-building-wealth-with-investments-real-estate-business-ownership/

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Fintech

Unpicking the Australian open banking opportunity

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In the journey towards widespread global open banking adoption, Australia is cutting a unique path of its own.

The core difference between open banking in Australia and, say, the UK, is the local government’s top-down policy-led approach through the Consumer Data Right (CDR).

Essentially the CDR gave Australians the right to access not just all their financial data but also their utility, telecoms data and more, over a series of phases in the coming years.

This groundwork covers a broad scope of financial products, everything from mortgages and personal loans to credit cards and business accounts.

And, after a slow start, momentum seems to be growing as open banking reaches its 2nd birthday.

Two of the country’s largest banks, the Commonwealth Bank of Australia and Australia and New Zealand Banking Group (ANZ), are both expected to launch their first open banking use cases later this year.

Australia’s end goal is clearly far more ambitious than where open banking currently is in Europe—where policymakers are still wrestling over the first step of expanding from banking data to other financial products.

Yet this great ambition brings with it more complexity.

Australia’s state of play

“We have a government that is really playing the long game, in terms of the benefits they’re looking for,” says Gareth Gumbley, CEO and Founder of Frollo.

“And we have a much richer and deeper data set to work with because of that.”

Frollo is the Australian equivalent of an Account Information Service Provider (AISP), making it easy for fintechs and banks, like ANZ, to access open banking data and then use it to create products or services.

The hold-up, according to Gumbley, is the lack of accredited data recipients, i.e. those who can ingest the data which the big banks are exposing.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://australianfintech.com.au/unpicking-the-australian-open-banking-opportunity/

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