Every day we bring you fresh insights about Fintech from an elite group of Authors who are just like you – senior executives, entrepreneurs and investors on the frontlines of the global Fintech & Crypto revolution. Once a week Daily Fintech’s Editor summarises these posts so that busy people can get a peek at what you will get by reading the whole article.
Ilias Louis Hatzis is the Founder at Mercato Blockchain Corporation AG and Weekly Columnist at Daily Fintech
Is the current state of blockchain development ready to attract a large number of users? For the technology to become mainstream, it needs to be applied in ways that people actually find useful and provide a much better experience than what is already available. Can social media be crypto’s killer app? Decentralized and decentralizing technologies are challenging and changing how we manage our digital identities and who has access to our data.
Editor Note: Decentralized social media & messaging will be private by default. That will be a game-changer. I keep on being told that people do not care about privacy. I don’t think that is true. I think people do not believe that privacy + Internet is possible. Once an entrepreneur shows it is possible, minds will shift.
Tuesday, Efi Pylarinou @efipm our Swiss-based Fintech Adviser wrote Smart Bricks meet Clicks & Voice – the Walmart Way
E-commerce giant Amazon is a big player in many markets. From e-commerce, cloud, delivery, entertainment, payments, smart home devices, and physical stores.
Retail giant Walmart, not included in the FANGs or the GAFAs, as it is a native of another tribe (physical retailers), can actually stand respectfully next to Amazon and other large non-financials that are using Fintech technologies to grow ecosystems and transform digitally.
Editor Note. Fintech, like most innovation, often gets traction first from those excluded by legacy finance. The Walmart ecosystem of customers and employees is huge and mostly falls within the Excluded. So it will be very interesting to see if the range of Fintech services that Efi describes benefits those employees & customers and therefore the two other stakeholders – suppliers and shareholders.
Jessica Ellerm is a thought leader specializing in Small Business and the Gig Economy and is the CEO and Co-Founder of Zuper, a neowealth disruptor in Australia.
With less than 4 years of operations under its belt, ambitious African fintech, SME lender Lidya, has announced it will commence its expansion into eastern Europe. The venture backed Nigerian startup is set to take its fast capital model to Poland and the Czech Republic, and will no doubt be looking to replicate the success it’s had in its home market, having disbursed close to 10,000 loans since the company’s inception in 2016.
Editor Note.The idea that the West innovates and the Rest of the World copies has been turned on it’s head as billions move into a global middle class using digital financial services that eventually find their way to the West. SME lender Lidya from Africa is a good example of today’s reality – First the Rest then the West.
Thursday, Patrick Kelahan @insuranceeleph1 our US-based Insurtech expert, wrote
Are there common threads for or against the industry changing customers’ insurance viewpoints among these data points?
$82.6 billion spent by insurers in 2018 on tech- U.S. market[i]
$1.2 trillion- 2018 premiums, U.S. P&C market
Record cash surplus for U.S. P&C firms- $802 billion as of 9/2019
$3.1 billion in 2018 global InsurTech funding, $8 billion over five years
Customer claim satisfaction per JD Power has improved marginally 2016 – 2018
600 insurance industry CEOs and 7000 persons attended InsureTech Connect 2019
Editor Note. Straight Through Processing (STP) is a staple of Capital Markets and may be the driver of success in Insurance Claims Processing.
Friday, Arunkumar Krishnakumar @karunk our UK-based Fintech investor, wrote BoE Mandates Climate risk stress tests, can Fintechs help?