In race to be Asia's fintech hub, Singapore leads Hong Kong

Great Asian FinTech momentum building up! Singapore positioning itself as hub with strong ecosystem and stable regulatory and fiscal climate! Singapore's fintech drive comes as its role as an offshore private banking centre is under threat from a multi-billion-dollar money laundering scandal in neighbouring Malaysia, and as Indonesia chases undeclared money parked in the low-tax city state.

Singapore's traditional shipping and manufacturing growth drivers are faltering amid a global economic slowdown and a slump in commodity prices and demand.
SINGAPORE: Singapore is rushing to reinvent itself as Asia's financial technology, or fintech, hub to fend off a regulatory threat to its wealth management industry and revive a sluggish economy.

State funding, light-touch regulation and a recent move to allow start-ups to test financial products in a controlled environment have put Singapore ahead of rival Hong Kong to be Asia's fintech hotspot.

Much like Uber, Airbnb and others have harnessed technology and online social networking to disrupt taxi and hotel services, fintech firms are shaking up the traditional banking and financial services industry.
London’s Fintech Crown Up For Grabs After Brexit As Dublin, Paris, Frankfurt Cajole Bankers

Post Brexit has caused investors to question London's ability to maintain it's stance as one of the leading global fintech hubs. The result - neighboring European cities are flying in to London to basically "court" investors and financial firms, trying to convince them they they should be  next to carry the "fintech crown". Some think Amsterdam, Some Berlin some Paris, Some think Dublin may be the most eligible city to wear the crown, as many large tech companies have their HQ situated there, but without a strong financial industry it's hard to see how that will play out.

The race is on between European cities including Frankfurt, Dublin and Paris for London's finance crown following the Brexit vote.

Just a day after the vote result was announced last week, Ireland's foreign investment agency had already contacted more than a thousand investors letting them know the Emerald Isle is part of the European Union and will remain so, while offering assistance in moving staff over from the United Kingdom.

Although this is all very premature as Article 50 is yet to be triggered and when it is, there will be up to two years of negotiations, these other major European cities are wasting no time in trying to hasten its downturn.
Global banks, Intel join Israel’s fintech sceneHSBC, RBS, Italy’s Intesa Sanpaolo and Banco Santande

"The Floor", the Israeli version of London's Level39, has built strong partnerships with global banks like HSBS, RBS, Banco Santander, along with semiconductor giant Intel. The intention is to build a fintech hub in Israel, promoting fintech startups as they aim to scale through partnerships with global institutions. As Israel's financial industry is trying to expand and gain global recognition, the Bank of Israel has decided to also take part in "The Floor"s initiative and views it as a "win-win situation". 

Four global banking conglomerates have joined forces with semiconductor giant Intel and three Israeli entrepreneurs to take part in Israel’s growing financial technology scene by setting up a new fintech hub at the heart of Tel Aviv.

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HSBC, RBS, Italy’s Intesa Sanpaolo and Spain’s Banco Santander have set up, together with Avi Cohen, Gil Devora and Moises Cohen, a new center to foster the creation of financial technology startups in Israel.

The Floor, as the Tel Aviv based center is called, aims to pave the way for the companies it fosters to access the $1 billion investment funds managed by the group’s strategic partners and banks. KPMG and Accenture are also part of the venture, the partners said in a joint statement.
How InsurTech players are re-imagining the insurance value chain

Nice visual overview. See actually more integration of the disrupters across the value chain

InsurTech players have begun disrupting parts of the insurance value chain by offering specialised offerings within each area. As conslolidation occurs in the industry, new players may emerge that disrupt the entire value chain and thereby fundamentally transforming the industry as a whole. The InsurTech players below have re-imagined the traditional insurance value chain in the following ways:

1. Marketing, Leads generation and Sales


Launched the VitalityDrive app which gamified telematics. Users who downloaded the app were prompted to invite their friends to use the app in order to compare and compete on good driving behaviour. Leaderboards were published on a frequent basis to enhance the gamification concept. The “use for free” concept was successfully used by the company to generate leads and obtain vast amouts of data on driving behaviour across the country.

Friendsurance, Lemonade and Guevara
Opinion: Brexit is a tragedy, but it could be the making of UK Fintech

So many conflicting articles on BRexit impact on FinTech indicates I guess that nobody really knows at this point

Let there be no doubt – Brexit is a tragedy. Instead of taking on challenges with its European partners, Britain is taking precisely the wrong course, injecting needless uncertainty and negativity into the economy.

Tech will particularly suffer. The UK’s start-up scene, nurtured by international venture capital and skilled workers’ willingness to move here, was starting to create global challengers – and thousands of well-paid jobs. Development will now stall as companies struggle to find the staff and cash they need to scale.

Gloomy projections of London’s forthcoming tech decline are now ten-a-penny. And for financial technology, forecasts are particularly bleak, with banks and start-ups alike seen ready to abandon the UK for more welcoming climes in Dublin, Paris, Stockholm or Frankfurt.
Uber CEO Travis Kalanick: soon, nobody will own a car

Great statistics! Would also be good to see how long it will take before Self driving car & software is rolled out. Expect this to be 5-10 years depending on city/country...May be self driving car is not the accurate work as feels more like most of the time self driving car

The roll-out of self-driving vehicles within the next decade could spell the end of car ownership, according to Uber founder and CEO Travis Kalanick.

Uber, Google and Apple are among the many companies working on the development of self-driving cars, and Kalanick believes it won’t be long before autonomous vehicles begin to go mainstream. When this happens, the CEO says, mass car ownership will quickly become a thing of the past.

And ride-sharing companies like Uber, which is testing driverless vehicles in Pittsburgh, could help to speed up the decline in car ownership.

“If there was a mobility service that's cheaper than owning a car, more reliable, and you get to sit in the back seat instead of being stressed out in the front seat, why would you own a car?” Kalanick asked.
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