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Wirecard and UZE Mobility Partner to Launch Innovative Services in e-mobility

Vlad Poptamas

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Wirecard, the global innovation leader for digital financial technology and UZE Mobility, open innovation platform for e-mobility services, have entered into a strategic partnership. The companies will join forces, combining their payment and geolocation technology to launch innovative services in e-mobility and further driving the megatrend New Mobility and Commerce on the Move.

In 2019, UZE Mobility started to provide cities with a fleet of multi-purpose carsharing vehicles and will scale in 2020 with so-called Digital Kits. These are digital advertising displays that are placed on each vehicle type and managed via the UZE Mobility platform. When in use, the vehicles safely capture geolocation data, which can be used by public and private entities in the creation of electronic maps, geotagging, and other uses in the field of mobility. This service is free for users, who contribute to the UZE Mobility marketplace with data collected only from the vehicle’s location and surroundings.

Simultaneously, the vehicles offer a one of a kind advertising space. This form of digital advertising gives businesses the opportunity to promote their products and services in precise demographic areas to reach a desired target market. For example, a retailer can advertise the opening of a new store branch on a vehicle travelling in the respective neighborhood. According to a 2019 report by Zenith Media, out-of-home advertising (OOH) expenditure is steadily increasing on a yearly basis, globally: in 2018, the global spend topped USD 38.5 billion, with that figure expected to hit USD 42.2 billion by 2021. As part of the cooperation, Wirecard will be the preferred payment partner for transactions carried out on the UZE marketplace.

“We are delighted to partner with Wirecard as we forge the path towards the future of mobility,” commented Sebastian Thelen, Co-Founder and CIO at UZE Mobility.

Alexander Jablovski, CEO and Co-Founder at UZE Mobility, said, “In Wirecard, we have found the technology partner with whom we are leveraging the enormous potential of mobility data that is still largely untapped today in order to open up new markets. I am very glad to partner with one of the most innovative companies in its field.”

“In 2020, we expect the Commerce on the Move trend to gain momentum and bring even more innovative, ground-breaking ideas to the mobility market,” added Stephan Ritzenhoff, Principal Manager Strategic Alliances at Wirecard. “For this reason, we are proud to cooperate with UZE Mobility, true innovators in the field of e-mobility. We look forward to working with UZE Mobility and making the future of mobility happen today.”

The UZE Ads Kits have received their road approval and successfully passed the proof of concept stage. By 2020, UZE Mobility aims to bring between 500 and 1,000 of these systems onto the roads in the DACH region. In addition, UZE Mobility is currently adding further display providers to its Mobility Digital out-of-home platform. UZE Mobility plans to scale accordingly in Europe and internationally in 2020. In addition, metropolitan areas such as Mexico City and San Francisco have expressed interest in the data platform and advertising systems of the company.

 

SOURCE Wirecard AG

Fintech

Chinese fintech attracted investments of USD 962.2 million in 2H 2019

Vlad Poptamas

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Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019, according to KPMG’s Pulse of Fintech H2’19 bi-annual report on global fintech investment trends.

Fintech investment in China took a breather after a massive 2018, but the country’s fintech market continued to see substantial activity and Chinese companies still ranked among the largest fintech deals in Asia Pacific for the whole of 2019. China’s large technology giants continued to focus on growing their reach geographically, making investments or plays well outside of Greater China. Ant Financial, for example, submitted an application for a digital banking license in Singapore in late 2019, while Tencent made a number of significant investments in fintech companies in other regions throughout the year, including Ualá in Argentina.

Investors in China also began to turn their attention to up-and-coming areas of fintech. These include regtech, which has appeal among VC investors because of its ability to leverage artificial intelligence and machine learning to assess risk and identify fraud. China-based investors are also interested in fintech companies that use these technologies more broadly to improve the operations of banks and financial institutions, such as improving operational efficiencies, generate and analyse data, as well as support wealth management.

The third quarter of 2019 saw the People’s Bank of China unveiled a three-year plan to support the development of the fintech industry. Since then, there has already been a number of moves focused on implementation. For example, a fintech sandbox is in development, with testing currently being concluded in Beijing. It is expected that this plan will help fuel future investment in fintech, particularly in key areas like risk management, cybersecurity, big data, artificial intelligence, distributed databases and authentication.

Chris Wang, Partner, Head of Fintech, KPMG China, commented, “China’s central bank and other authority bodies are working to move fintech in the country to ‘2nd half’ as part of their three-year fintech development plan. We anticipate an increased regulation and guidance for the industry and an enhanced infrastructure to support fintech development. For example, sandbox mechanism is being designed and may soon roll out to test the concept of different fintech to make sure they comply with regulations and will achieve the desired results before they enter the market.”

The fintech market in Hong Kong saw some resilience in the fourth quarter of 2019, particularly on the back of Alibaba’s decision to do a secondary listing on the Hong Kong Stock Exchange, which raised USD 11.2 billion, making it the largest listing of the year globally.

Earlier in 2019, Hong Kong issued the first batch of eight digital banking licenses. ZhongAn was the first to launch a digital bank pilot, with others expected to follow suit in 2020. As the licensees continue to formulate their digital bank offerings, Hong Kong could see an upswing in investments in related areas, like KYC, regtech, digital onboarding and communications, and digital banking infrastructure. The issuance of digital banking licences has also spurred traditional banks to improve their own digital offerings and experience.

Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, said, “We’re starting to see ecosystems evolving with respect to digital banks. Partners are coming together to get digital banking licenses. Once they have their pilot projects underway, and they have proven their technology both internally and to the Hong Kong Monetary Authority, we’ll start to see them leveraging those partnerships more deeply – integrating banking services with other offerings like travel bookings or insurance to provide their customers with a seamless experience.”

 

SOURCE KPMG China

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Fintech

Chinese fintech attracted investments of USD 962.2 million in 2H 2019

Vlad Poptamas

Published

on

 

Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019, according to KPMG’s Pulse of Fintech H2’19 bi-annual report on global fintech investment trends.

Fintech investment in China took a breather after a massive 2018, but the country’s fintech market continued to see substantial activity and Chinese companies still ranked among the largest fintech deals in Asia Pacific for the whole of 2019. China’s large technology giants continued to focus on growing their reach geographically, making investments or plays well outside of Greater China. Ant Financial, for example, submitted an application for a digital banking license in Singapore in late 2019, while Tencent made a number of significant investments in fintech companies in other regions throughout the year, including Ualá in Argentina.

Investors in China also began to turn their attention to up-and-coming areas of fintech. These include regtech, which has appeal among VC investors because of its ability to leverage artificial intelligence and machine learning to assess risk and identify fraud. China-based investors are also interested in fintech companies that use these technologies more broadly to improve the operations of banks and financial institutions, such as improving operational efficiencies, generate and analyse data, as well as support wealth management.

The third quarter of 2019 saw the People’s Bank of China unveiled a three-year plan to support the development of the fintech industry. Since then, there has already been a number of moves focused on implementation. For example, a fintech sandbox is in development, with testing currently being concluded in Beijing. It is expected that this plan will help fuel future investment in fintech, particularly in key areas like risk management, cybersecurity, big data, artificial intelligence, distributed databases and authentication.

Chris Wang, Partner, Head of Fintech, KPMG China, commented, “China’s central bank and other authority bodies are working to move fintech in the country to ‘2nd half’ as part of their three-year fintech development plan. We anticipate an increased regulation and guidance for the industry and an enhanced infrastructure to support fintech development. For example, sandbox mechanism is being designed and may soon roll out to test the concept of different fintech to make sure they comply with regulations and will achieve the desired results before they enter the market.”

The fintech market in Hong Kong saw some resilience in the fourth quarter of 2019, particularly on the back of Alibaba’s decision to do a secondary listing on the Hong Kong Stock Exchange, which raised USD 11.2 billion, making it the largest listing of the year globally.

Earlier in 2019, Hong Kong issued the first batch of eight digital banking licenses. ZhongAn was the first to launch a digital bank pilot, with others expected to follow suit in 2020. As the licensees continue to formulate their digital bank offerings, Hong Kong could see an upswing in investments in related areas, like KYC, regtech, digital onboarding and communications, and digital banking infrastructure. The issuance of digital banking licences has also spurred traditional banks to improve their own digital offerings and experience.

Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, said, “We’re starting to see ecosystems evolving with respect to digital banks. Partners are coming together to get digital banking licenses. Once they have their pilot projects underway, and they have proven their technology both internally and to the Hong Kong Monetary Authority, we’ll start to see them leveraging those partnerships more deeply – integrating banking services with other offerings like travel bookings or insurance to provide their customers with a seamless experience.”

 

SOURCE KPMG China

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CFP Board Center for Financial Planning Announces Best Paper Winners for 2020 Academic Research Colloquium

Vlad Poptamas

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The CFP Board Center for Financial Planning is pleased to announce the recipients of the 2020 Best Paper Awards that were presented last week in Arlington, Va., during the Center’s fourth annual Academic Research Colloquium for Financial Planning and Related Disciplines.

  • The TD Ameritrade Best Paper Award in Behavioral Finance – Sung Lee of Stern School of Business, New York University, for “Fintech Nudges: Overspending Messages and Personal Finance Management”
  • The Northwestern Mutual Best Paper Award in Insurance/Risk Management – Hossein Salehi, CFP® of California Lutheran University, and Charlene Kalenkoski, CFP® of Texas Tech University, for “The Relationship Between Ownership of Insurance Products and Retirement Satisfaction”
  • The Emerging Scholar Best Paper Award – Derek Tharp, CFP® of University of Southern Maine, for “Consumer Perceptions of Financial Advisory Titles and Implications for Title Regulation”
  • The Best Paper Award in Investments – Da Ke of University of South Carolina, for “Left Behind: Partisan Identity and Wealth Inequality”
  • The Best Paper Award in Household Finance – Nick PretnarAlan Montgomery, and Christopher Olivola of Tepper School of Business, Carnegie Mellon University, for “A Structural Model of Mental Accounting”

A full list of 2020 accepted papers is available here.

“We received many compelling paper submissions this year, but the committee selected those that they felt demonstrated the highest research standards,” said Charles R. Chaffin, Ed.D., director of Academic Initiatives, CFP Board Center for Financial Planning. “We congratulate the winners for their contributions to knowledge and innovation in the financial planning industry.”

The Best Paper series of awards recognizes authors from a variety of disciplines and sub-disciplines that relate to financial planning. The award carries a $2,500 cash prize for the author(s) of each winning paper.

The colloquium gathers the global academic community to showcase rigorous and relevant research within financial planning and related disciplines that directly or indirectly relates to the global financial planning practice and the body of knowledge. The CFP Board Center for Financial Planning hosts the colloquium in collaboration with FP Canada and the Financial Planning Standards Board Ltd., owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States.

The colloquium is made possible with support from the Center’s Lead Founding Sponsor, TD Ameritrade Institutional, and Founding Sponsors Northwestern Mutual, Envestnet and Charles Schwab Foundation, in partnership with Schwab Advisor Services.

 

SOURCE Certified Financial Planner Board of Standards, Inc.

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