Brexit creates a new vocabulary for startups in Europe

Nice article on how it could impact start-ups in Europe

The “United” Kingdom just punched the European startup scene in the face and we’ll see if Europe can recover.

The problems that the Brexit vote will bring will have ramifications that will be felt across Europe. In any tumultuous change, though, the weakest entities suffer the most, and in business who will be the ones most exposed to the effects of the Brexit by definition? Startups.

Here’s a new lexicon of Brexit-styled terms that startups may want to learn to discuss what will happen…

Eurogeddon: The amount of funding for European startups will drop by 20% or greater by the end of the year. Approximately 50% of European funding is from London, and London dominates the later stage funding rounds.

Robo-Advisory Services in Asia

Nice overview of the ROBO market and trends in ASIA, incl BCG report. Strong growth expected! It is clear that Asia-Pacific will drive growth in the sector, and given Asia’s high Internet penetration rates and the habits of new millennials, robo-advisors have the potential to be a hit in the region.

Automated advisory platforms, also known as robo-advisors, have already caused a stir in the US and the UK, and are now winning market share in Asia.

These digital platforms offer online, customized investment advice and portfolio constitution, most of the time through ETFs or mutual funds, and are starting to appear in Asia as the region is expected to drive most the private wealth’s growth for the next decade and beyond.

The Boston Consulting Group predicts that Asia-Pacific (excluding Japan) will surpass Western Europe (a projected US$49 trillion) – which currently stands as the second-wealthiest region after North America – with a projected US$55 trillion in private wealth in 2019. Asia-Pacific is expected to hold 26% of the global financial wealth in 2019, compared to the 21% share it held in 2014.

Asian Financial Technology Updates

Nice overview momentum picking up in Asian FinTech!

Over a year ago I wrote the first summary of the FinTech developments in Asia after I travelled to 10 countries to run Startupbootcamp FinTech Pitch Days – most of the time it was the first time ever a FinTech event has happened in each location.

This year around, and as part of my recently set up firm tryb, it was good to visit multiple FinTech hubs again, deepen relationships, make new friends and get a sense of the local scene. As many people ask me what is going on in Asia, here another summary of the recent travelling (in order of travels). If you feel lazy, scroll down to the bottom and have a look at the infographic with the key information.

See for more details on each of the markets the article
MAS Details 100 Problem Statements For ‘Global Fintech Hackcelerator’

Think you can make add problem 101 BRexit, as this should be a clear opportunity for Singapore...

With the upcoming week long Fintech Festival organized by the Monetary Authority of Singapore (MAS), the central bank has named the 100 challenges it invites fintech startups and ventures from around the world to solve using innovative products and services.

In November, MAS will organize the inaugural Singapore Fintech Festival which will bring together a series of district fintech events. As part of the Fintech Festival, MAS will also be hosting the Global Fintech Hackcelerator.

Aimed at creating market-ready solutions to 100 industry problem statements, the Global Fintech Hackcelerator is inviting teams from around the world to submit their ideas and proposals. In August 2016, 20 teams will be shortlisted to join the 10-week Global Fintech Hackcelerator and present their solutions during demo day on November 15, 2016.
Startup bank Mondo has to raise at least £15 million to get its banking licence

Tom Blomfield, CEO and founder Mondo. MondoHot startup bank Mondo must raise at least £15 million ($22 million) later this year to gain its full banking licence.

Mondo, which crowdfunded £1 million in just 96 seconds earlier this year, is in the process of applying for its full license and hopes to have a "restricted licence" within two or three months. This is a sort of probationary licence that allows Mondo to prove to regulators it is ready for a full licence.

CEO Tom Blomfield told Business Insider: "The restricted licence is a way of signalling to the market that they are [the Bank of England and regulator Financial Conduct Authority] minded to approve you, so you can then go out and raise the capital you need to launch. It is sort of a test phase.
Sector Summary on Robo-Advisors: The Future of Wealth Management

One of many reports on ROBO, not so much new...

For many years, we have been working with investment advisors to make the best use of our money. The accuracy and consistency of their advice have always been in question, but we never cared about it much until the time we started having choices.

Wealth Management firms are going through a dynamic shift—from a traditional approach to a trendy one—attracting millennials by introducing robo-advisory platforms. Robo-advisor services can quickly provide customers with well-diversified investment portfolios suitable for their risk tolerance and long-term investment objectives. Due to such convenient and low-priced service offered by this technology, a growing number of startups and traditional investment firms are also turning towards it.

Assets managed by robo-advisors are estimated to increase by 68% annually and to about $2.2 trillion in five years.
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