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Mintos officially debuts in Italy and Spain, offering a new investment platform that makes investing easy and free of charge

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Following its official debut in the German market, Mintos, the multi-asset platform offering a unique mix of alternative and traditional investment options, continues its European rollout by making its official debut in the Italian and Spanish investment markets, with plans to expand to more countries in the near future. Since its founding in 2015, the platform has attracted over 500,000 users across Europe. Authorised by MiFID, the company currently manages over 600 million euros in assets under administration.

Revealing insights into financial habits in Italy and Spain

Mintos, in partnership with London-based research company Censuswide, unveils interesting insights into how Italians and Spaniards manage their finances. The survey, carried out on a sample of 4,000 investors based in different cities and regions of Italy and Spain, exposes a noteworthy trend – half of respondents from both countries are currently not actively investing in financial instruments.
“In analysing the results, the sizable segment of non-active investors indicates significant growth potential in Italy and Spain. The nearly equal split between active and non-active investors underscores a strong interest in investment opportunities,” comments Martins Sulte, CEO and co-founder of Mintos.

In addition to that, according to the study, 40% of respondents in Italy and 33% in Spain would like to start investing in the future, and they would be motivated to do so by the possibility to invest small amounts and the chance to learn more about the world of investing. “Mintos was developed for investors looking for simplicity and enables investments from as little as €50. We also acknowledge that there is a broad segment of people who could benefit from educational initiatives and programs aimed at promoting financial literacy and encouraging informed investment decisions,” comments Martins Sulte. “In response, Mintos is committed to bridging this knowledge gap by providing accessible learning content and a user-friendly platform on our blog, ensuring a hassle-free and inclusive financial experience.”

Mintos offering: loans, Fractional Bonds and ETFs

Mintos already holds a prominent position as the leading European platform for investing in loans, offering investors the opportunity to invest in consumer and small business credit for potentially attractive long-term returns.

Another recent addition to Mintos’ offerings are Fractional Bonds that allow customers to invest in high-yield bonds from as little as €50 and zero commissions and enjoy regular, fixed returns. Historically, high-yield bonds were primarily accessible to institutional investors or affluent individuals. However, Mintos has democratized access to these fixed-income securities for retail investors in Europe.

Moreover, in line with classic portfolio theory, equities are essential components. Notably, Mintos distinguishes itself by offering managed ETF portfolios completely free of charge, a significant advantage compared to other players in the market. These include bond and equity ETFs from renowned providers such as Amundi, iShares, JP Morgan, Vanguard and others. The minimum investment is €50 with zero fees.

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Fintech

Central banks and the FinTech sector unite to change global payments space

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The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

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Fintech

TD Bank inks multi-year strategic partnership with Google Cloud

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TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.

Source: fintechfutures.com

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MAS launches transformative platform to combat money laundering

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The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.

Source: fintech.global

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