Right after the 2008 World Financial Crisis, a new sector has dominated the financial industry scene. We’re talking about the FinTech sector. The financial technology industry, an ensemble of financial services that span from banking to loans to insurance technology, regulatory technology, payments, mobile banking, among other types of technology has grown immensely in the past decade, and we appear to have entered the apex of this growth right before the start of the year 2020.
But what has been the impact of FinTech on job creation, money transfer, consumer experience, taxation in Europe and Switzerland, and in various other areas of society?
To help draw some interesting conclusions and answer a few of these questions, visualising the data on investment in the financial technology industry can be extremely helpful.
In the EU FinTech map and graph we can clearly observe the decline in investment in the UK following the divisive 2016 Brexit vote. The reason for the decline could be the uneasiness in investing money in the UK when the situation is uncertain at a political level. Yet, financial trends suggest that this decline, which reflects data based on venture capital investment, is perfectly in tune with a consolidating industry, where the investment comes more from later rounds of funding.
The decrease in capital invested is still most certainly due to investor’s uncertainty. The changes in the banking, insurance and loaning industries are shaking the foundations of what used to be regarded as a solid sector before the 2008 WCF.
In this climate, one of the most interesting insights the map offers is the slow but steady rise of Germany as a dark horse in the FinTech sector. Germany has long been second to the UK in financial technology investment and start-up creation, yet there could be a shift in trends that might make Germany the leading European power in this booming industry.
The UK has always attracted new business through well-placed regulations aimed at facilitating the creation of new opportunities for all. Separation from the EU and the subsequent immigration policies that may be implemented could drive international talent away from the British territory.
To have a better understanding of the data, you can check the below interactive map and time graph:
About the author: Nicola Clothier is CEO of Accurity GmbH, a Swiss-based employment service provider. Nicola has an Honours degree in English Literature from Stirling University and more than 20 years’ experience in Swiss employment, and personnel leasing up to executive level throughout Europe.
Global Digital B2B Payments Market: Size, Trends & Forecasts (2020-2024)
Dublin, Feb. 18, 2020 (GLOBE NEWSWIRE) — The “Global Digital B2B Payments Market: Size, Trends & Forecasts (2020-2024)” report has been added to ResearchAndMarkets.com’s offering.
This report provides an in-depth analysis of the global digital B2B payments market, with a detailed analysis of market size and growth. The report provides an analysis of the digital B2B payments market by value and by modes.The global digital B2B payments market has observed stable growth in the past few years and the market is further expected to rise at an affirmative rate during the forecasted period (2020-2024). The growth of the global digital B2B payments market would be bolstered by the growth drivers such as growing real-time payments, increasing adoption of cloud-based solutions, escalating smartphone penetration, emerging B2B e-commerce industry, swelling business process automation, rising urbanization, increasing cross border payments, etc.The major players dominating the digital B2B payments market are Alibaba Group (Ant Financial), American Express, Bottomline Technologies Inc., and Coupa Software Inc. The four companies have been profiled in the report providing a detailed analysis of their financial information and business strategies.Key Topics Covered: 2. Introduction
2.1 Payments: An Overview
2.2 B2B Payment: An Overview
2.3 History of B2B Payments: An Overview
2.4 B2B Payments End-User: An Overview
2.5 Digital Payments: An Overview
2.6 Process of Invoice to Payment Automation
2.7 Streams of Digital B2B Payments: An OverviewFor more information about this report visit https://www.researchandmarkets.com/r/ejgrq0Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Hitting $12B in AUM, Carson Doubles Down on Cutting Tech Costs for Partners
Carson Group, one of the fastest growing financial services firms in the country, announced that as of April 1, 2020, Carson will cover technology costs for all partner firms—encompassing software platforms Salesforce, Orion, Smarsh and Egnyte. eMoney will also be covered as of May 1, 2020. Instead of spending time and money evaluating and adopting technology, wirehouse advisors, IARs and RIAs in the Carson Partners network can now, more than ever, focus on what matters and maximize the value they deliver to the families they serve.
Carson President Teri Shepherd said, “Reaching $12 billion AUM is a testament to our advisors and their dedication to serving nearly 32,000 families across the United States. We want our partners to have the resources to continuously reinvest in optimization and growth. Paying for the tech stack is the latest example of our commitment to helping advisors serve their clients while empowering them to focus on being the CEO of their business.”
Carson Group had unveiled plans to eliminate the financial burden on advisor businesses leveraging the Carson CX (client experience) at its flagship industry-wide Excell conference in Chicago in May 2019. Plans for discounted services and direct cost savings to partners were among the key messages shared during Carson’s Partner Summit that takes place during Excell each year. The team announced zero costs on Orion Advisor Services fees within advisory accounts, which averaged a savings of more than $22,000 per advisor firm.
Bob Huntley, Founder and Wealth Advisor of Texas-based Carson partner firm Wise Counsel Wealth Management said, “I cannot tell you how exciting it is to be part of this movement Ron Carson has built. I am already making plans to reinvest 100 percent of the savings back into growth this year.”
This commitment to eliminating tech costs is the latest in an ongoing rollout of Carson CX (customer experience) releases and technology enhancements to help make complex issues simple for advisors and investors across the country. Over the past year, the organization has rolled out several value-added advisor services and support to its ecosystem, including an expanded brokerage solution, M&A consulting to help its advisors grow their practices, succession planning, and cash management options through its partnership with Galileo Money+, a new mobile-only banking service, available exclusively through financial advisors.
Carson Group serves advisors and investors in more than 120 partner offices across the country, including 24 Carson Wealth offices. In addition to being a mainstay in the Barron’s annual list of top wealth management firms, Carson Group remains among the Inc. 5000 list of America’s fastest-growing companies, has been recognized for two consecutive years by InvestmentNews as a top-50 firm for Best Places to Work for Financial Advisors, and was recently awarded a Best Places to Work in FinTech by American Banker.
SOURCE Carson Group
Rapyd and Visa Team Up to Drive Adoption of Fintech Services for Businesses Around the World
Rapyd, a global B2B Fintech as a Service provider, today announced a new agreement with Visa (NYSE:V) that will help Rapyd expand its worldwide business operations. Rapyd will collaborate with Visa to offer fintech and payment services where both firms see opportunities to help businesses expand their core offerings with more expansive local and cross-border market solutions. Additionally, Rapyd will join Visa’s Fintech Fast Track programs as an enablement partner to drive its speed to market for Fintechs through a variety of Visa payment solutions. Rapyd has become a Visa issuer in the UK and plans to expand its issuing and acquiring footprint in other key regions over time.
Rapyd’s unified cloud-based platform helps businesses quickly integrate Fintech and payment capabilities into any commerce application. eCommerce merchants, gig economy platforms, financial institutions, and technology providers are all looking to enable highly localized customer experiences around the world, a challenge Rapyd solves by delivering the full stack of fintech services through a single integration.
For instance, as part of this new relationship with Visa, Rapyd can instantly issue a virtual Visa card that can be utilized by a gig-economy worker in Latin America to purchase goods on behalf of the platform, or disburse funds to a worker on a Visa card in Asia-Pacific, all from a single integration on the Rapyd platform.
Sarel Tal, Vice President, Europe, Middle East and Africa (EMEA) at Rapyd noted, “As businesses look for global expansion opportunities they must contend with the complexity of integrating local and cross-border payment capabilities, including collections, disbursements, and card-based solutions. Now Rapyd can leverage Visa’s offerings — Visa Direct for real-time funds transfers, Visa Token Services for secure digital payments, and Visa’s issuance capabilities – to enhance Rapyd’s core issuing and acquiring services, unlocking simple, relevant payment experiences for these businesses globally.”
Visa and Rapyd are particularly excited to work together in key European markets, which are poised for cross-border ecommerce growth. In 2018 cross-border ecommerce revenues reached € 137 billion in Europe, a 22.8% share of total online sales (EU16)1. Additionally, European cross-border marketplaces are set to grow by more than 50 percent increasing the need for innovative payment acceptance methods for customers and disbursement solutions for marketplace sellers2.
“Rapyd’s platform helps fintechs, merchants and marketplaces stand up payment-related services quickly and easily across multiple markets,” said Matt Dill, global head of strategic partnerships and venture, Visa. “We’re excited about our collaboration with Rapyd, and the many benefits we can provide to our mutual partners worldwide.”
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