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Frost releases The FinTech Report podcast, partners with Australian FinTech

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The Founder of The FinTech Summit and The FinTech Awards, Glen Frost, has created a new service for the fintech community – The FinTech Report podcast.

The FinTech Report podcast is a 30 minute deep dive into the people, platforms and businesses in the Australian fintech sector, and each episode I’ll be talking with a leading expert in the fintech field – we’ll be discussing a broad range of topics and issues,” said Frost.

“This will be a chance for all in-market fintechs to have a detailed discussion on the issues that matter to Australia,” added Frost.

“I’m delighted to be partnering with Australian FinTech – who I’ve worked with for many years – as they understand the power and importance of having local news and information sent directly to an inbox,” said Frost.

The launch episode is a 30 minute conversation with Mark Bernhardi, GM of nCino in Asia Pacific; a worldwide leader in cloud banking.

“nCino are transforming financial services through innovation, reputation and speed. They are the type of people we want to meet at The FinTech Report!” said Frost.

“Australian FinTech has worked with Glen for many years promoting his revered FinTech Awards and Summits, and this is another feature we’re proud to promote to our ever-growing audience,” said Cameron Dart, CEO & Co-Founder of Australian FinTech.

“We’ll be sharing links to The FinTech Report podcast on AustralianFinTech.com.au, through our newsletter and across all our social media pages, so everyone can listen to them, and I’m sure, learn a lot,” Dart added.

The FinTech Report is available on Buzzsprout, Spotify and iTunes:

https://thefintechreport.buzzsprout.com/

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Source: https://australianfintech.com.au/frost-releases-the-fintech-report-podcast-partners-with-australian-fintech/

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Watch: Aite Group analyst Leslie Parrish on how banks will improve the lending experience

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Watch: Aite Group analyst Leslie Parrish on how banks will improve the lending experience | Bank Automation News



































Watch: Aite Group analyst Leslie Parrish on how banks will improve the lending experience | Bank Automation News



























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London-based Lumio raises €1.2 million seed round to grow users’ money on autopilot

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Lumio, the personal finance brain that grows its users’ money on autopilot, has raised around 1.2 million in seed funding. The backing came from angel investors including Matteo Berlucchi, William Frewen, Richard Fearn, Ben Lundie as well as 1,208 crowd investors to help Lumio achieve their mission of growing 1 million customers’ money by 2024.

Lumio was created in 2017 to take personal finance management (PFM) to a new level – Personal Finance Optimisation. Lumio delivers all the convenience of the other ‘PFM’ players, but takes things further by enabling customers to connect their entire financial lives, matches users with the right product at the right time and sets up automatic transfers to grow users’ money on autopilot.

Lumio’s core focus as a company is to be 100% driven on how they can be the most efficient company in the industry in using data to grow customers’ money in the right product, at the right time.

Charlie Richardson, founder & CEO of Lumio, said: “After a turbulent 12 months, it’s an incredible start to 2021 by smashing our fundraising target and most exciting of all, welcoming over twelve-hundred new crowdfunding investors to join some of the UK’s most successful angel investors, as Lumio investors. The funds will be used to achieve product market fit, accelerate the product intelligence & personalisation and scale Lumio internationally.”

Lumio was founded by Charlie Richardson, Adrian Shedden and Tom Richardson with a vision of a world in which everyone has the financial security and peace of mind to decide their future. With aspirational young people still left to fend for themselves in the financial jungle, Lumio acts as an intelligent and independent app that acts in the customers’ best interest to fully optimise their money.

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Source: https://www.eu-startups.com/2021/04/london-based-lumio-raises-e1-2-million-seed-round-to-grow-users-money-on-autopilot/

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Active Investment Management is Latest Industry Poised to Fall to the Advances of Artificial Intelligence (AI)

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Turing

Wilmington, Delaware. April 20, 2021 – According to Turing Technology, a fundamental rethinking of active investment management is underway that is destined to put several trillion dollars in assets in motion.  The pending upheaval is based on enabling AI and Machine Learning technology; the platform driving the change is Ensemble Active Management, or EAM.  EAM is not a stock-picking algorithm or a strategy, instead it uses proven best practices of predictive analytics gleaned from dozens of other industries as a mathematical platform for building investment portfolios.  There are literally millions of potential EAM Portfolios available.

Vadim Fishman, CEO and Co-Founder at Turing Technology Advisors

According to Vadim Fishman, CEO and co-founder of Turing, “We know what the outcome will look like, as progress can only be slowed, never stopped.  There are more than $10 trillion in actively managed investments that deserve better than status quo.  EAM is the inevitable answer.” Turing’s forecast is supported by three critical pillars:  affirmation from live performance data; market validation based on recent and pending market launches of EAM-based products; and the recent publication of a groundbreaking Research Paper that details how and why EAM structurally adds alpha.

Live Performance1: there are currently more than 60 EAM strategies in live production, built by a dozen firms.  In Turing’s latest industry-level performance report, the most striking data is rolling 12-month relative performance.  With more than 4,000 unique 12-month datapoints, EAM Portfolios outperformed corresponding indexes 78% of the rolling periods, and had a success rate versus actively managed peer groups of 87%.  Annual excess returns were equally strong, with an average annual excess return of 8.75% (875 basis points) versus indexes and 13.13% (1,313 basis points) versus actively managed peer groups.

Alexey Panchekha, President and co-founder of Turing put these numbers into perspective.

Alexey Panchekha, President and Co-Founder, Turing Technology Advisors

“The sample size is now too large to dismiss.  EAM has operated live across standard markets, a bear market, and a record-breaking market recovery.  EAM Portfolios currently reflect all 9 standard capitalization/style categories, plus multiple ESG options.”  He added, “There is not another platform for investing that is beating passive indexes 50% of the time, let alone 78% of the time.”

Market Launches:  EAM Portfolios are currently available as SMA’s to over 100,000 advisors and brokers through major platforms (e.g., Schwab and Envestnet) and firms, and is universally available as a Model Portfolio to advisors and institutional investors.  EAM-based active ETFs have been publicly announced and are expected this summer.  Multiple Structured Notes and Fixed Index Annuities launches are expected in calendar year 2021, with the first scheduled for this summer.  EAM-based products targeting retirement accounts are in development.  And some of the largest firms in the financial industry are either clients of Turing or in active discussions with Turing.

Validating Research:  Earlier this year Enterprising Investor from CFA Institute published a Research Paper that details the investment and mathematical justification of EAM.  Paul McCaffrey, the editor of Enterprising Investor, simply and concisely described the Paper as a “game changer”. To view the CFA Research Paper, “Ensemble Active Management: The Blueprint for Rescuing Active Management”, click here.

For more information about Turing or their services, please contact Turing at contact@turingta.com.

1EAM Performance is calculated using a standard index methodology:  gross of fees and transaction costs.  All performance is as of March 2021

About Turing Technology (www.turingta.com):

Turing Technology is a technology and intellectual property firm founded in 2016 by two world-class applied mathematicians with a long history of innovation and entrepreneurism. The firm’s capabilities emerge from the intersection of mathematics, machine learning, and innovation.  A principal component of Turing’s industry changing technologies includes its Hercules SystemTM, a first-of-its-kind technology generating real-time, daily holdings and portfolio weights of actively managed mutual funds).  The corresponding Hercules Database currently reflects information from nearly 1,000 actively managed mutual funds representing more than $4 trillion in fund assets under management.

Turing is not an investment management or advice firm. It is a technology company that licenses its technology and Intellectual Property to investment management, insurance, brokerage, RIA, and wealth firms to allow them to create and deliver superior investment solutions.

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Source: https://www.fintechnews.org/active-investment-management-is-latest-industry-poised-to-fall-to-the-advances-of-artificial-intelligence-ai/

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MX and Moov Bring Instant Account Verification to Fintechs

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MX, which began the year with a $300 million investment that boosted its valuation to $1.9 billion, is collaborating with developer-first payments platform Moov Financial to give fintechs and other companies instant account verification (IAV) and money movement.

“Moov is transforming the way fintechs enable account verification, money movement, and ACH payments through APIs,” MX cofounder and CTO Brandon Dewitt said. “We align with their mission to help fintechs and organizations focus on building amazing new experiences. Fintechs like Moov are a big reason why a massive digital shift is happening across the banking industry.”

Moov enables platforms, marketplaces, and software companies to embed payment functionality into their solutions, providing seamless money acceptance, storage, and disbursement. The combined, turnkey solution enhances the account verification process, providing a faster, more secure, and reliable experience for customers who are adding banking or payment functionality to their offerings.

“Whether you think of yourself as a fintech or not, every modern company is seeking a way to automate its process to accept, store, and disburse money,” Moov CEO Wade Arnold said. “Developers want the best user experience possible for their application. MX’s ability to provide fast IAV makes the payment experience swift and more seamless than it would have been without the joint solution.”

A multiple time Finovate Best of Show winner, MX provides connectivity and data enhancement for more than 16,000 financial institutions and fintechs – including 85% of digital banking providers. Among the Utah-based firm’s most recent collaborations is its partnership with AbbyBank. The $616 million asset community-owned bank launched its PFM solution – an embeddable digital money management tool powered by MX and offering budgeting, subscription tracking, debt management, and more – in March.

“With MX, AbbyBank is giving its customers across Wisconsin greater clarity into their personal finances,” MX Chief Customer Officer Nate Gardner said. “(It’s) exactly the kind of innovation, partnership and money experience that MX loves to enable through our powerful data platform.”

Founded in 2010, MX most recently demonstrated its technology at FinovateFall 2019.

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Source: https://finovate.com/mx-and-moov-bring-instant-account-verification-to-fintechs/

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