Digital News – January 2016 – Fintechs
Kenza Benmakhlouf at 2016-01-04 in Actualité digitale
The Fintech sector is getting structured, to the delight of entrepreneurs
France Fintech Association, a competitiveness cluster with dedicated incubators… French fintech sector is getting structured. Many institutions were created to support these start-ups. Thanks to their support, these finance start-ups can expect to change consumers’ behaviour and convince the behemoths who have been ruling the sector for years now, to forge profitable partnerships for both parties.
Can Fintechs threaten bank ratings?
In a study on the impact of Fintechs’ emergence on bank ratings, published by Standard and Poor’s, the rating agency explains that competition is not yet threatening the large banking institutions’ credit worthiness.
However, the agency concedes that given the rise of Fintechs, the risk of bank ratings being downgraded « in the coming decade » is likely to be higher.
S&P explains that « other industries have already been disrupted by technological changes and their credit worthiness was eventually negatively affected ».
European regulators wish to regulate the « robo-advisors » boom
Supervisors wish to measure the potential risks and benefits of the consumer websites and service providers, which provide customised consulting services, based on the algorithm analysis of each customer’s risk profile. The consultation does not concern product comparators, information websites or traditional online banking. It applies to tools which allow to take out a loan, an insurance or an investment with little or no human intervention.
The BNP Paribas group launches a special FinTech accelerator and seeks to strengthen ties with the start-ups of the sector, through a dedicated Innovation Practice.
The banking group positions itself on the financial and insurance technology segments by building an accelerator dedicated to these topics in association with L’Atelier, its digital think tank unit.
Objective: to support finance, insurance and technology-centered start-ups in the development of solutions related to the group’s businesses.
Swiss FinTech sector is finally arising
After lagging behind for a long time, the financial technology sector arose in Switzerland in 2015 with the creation of a host of start-ups. Overview.
Digital, Retail & SFS
Source illustration image : Planet Fintech