Tag Archives: Platforms

LFP091 – Securitisation in the Fintech Age with Oliver Schimek CEO CrossLend

Much Fintech (online wealth managers qv) is just “putting lipstick on a pig” – digitising existing processes at oldskool prices. No-one can say this about CrossLend who securitise loans ~200,000 times cheaper than oldskool prices and securitise down to one single loan as small as €1,500 :-!

Furthermore oldskool securitisation has all too often been a metaphor for investment bankers taking a huge chunk of value out of a package of assets and slicing and dicing the residual into complex tranches that even bamboozle the ratings agencies. With catastrophic effects – 2008 & CDO-squareds qv.

CrossLend has grown to a team of around 45 people, based in Berlin and Luxembourg and work across Europe – Germany, Netherlands, Spain, UK, Norway, Finland.

Topics discussed on the show Include: Continue reading

LFP090 – Pensions in the Gig Economy Age with Romi Savova CEO Pension Bee

The ONS has stated that the average UK worker will end up with eleven pension pots in their life. What a nightmare to track and manage for decades! What can Fintech bring to the party?

In this episode Romi Savova CEO and founder of online pensions provider Pension Bee joins us to discuss where pensions are now and where they are going.

Interestingly while we hear much about Open Banking there is no talk about Open Investment. Now isn’t that a curious thing,

Topics discussed on the show Include: Continue reading

LFP083 – Matchmaking Lending and Borrowing with Conrad Ford CEO Funding Options

Conrad was on the show back in LFP020 since when he has built Funding Options (strapline “your free marketplace for business finance”) into one of the most successful London Fintechs. They were chosen as one of three UK government mandated SME Referral Portals, are the largest of those by an order of magnitude, increased revenue fourfold last year, are on target to triple again this year as well as being on target to be the UK’s largest introducer of working capital finance.

Funding Options essential task/service is lining up all the many SME borrowers out there with relevant sources of Finance. A task made all the harder by the plethora of lenders and the many types of lending finance available.

How has this task evolved over the past 2.5yrs?

How is lending right now?

How is borrowing?

Topics discussed on the show include:  Continue reading

LFP081 – Trade Finance and Supplier Finance in the Digital Age with Guy Willans COO of Trade River

Trade Finance is one of those less media-highlighted but vital areas of the economy – it really is the oil in the engine of international trade. It’s one of those “how hard can it be” areas where it turns out quite a lot of wrinkles make it more of a speciality field than it might be. One can presume that this is due to it being an ancient business, after all finance was needed for the silk road and all other routes and merchant banking had its origins in international trade.

TradeRiver were founded in 2011 and have provided over £100m of working capital finance to businesses in the UK. They provide UK businesses with a unsecured line of revolving trade finance to fund purchases of goods or services within 24 hours, both worldwide and in the UK. Facilities can vary from £100k up to £5million. They recently opened an office in Baltimore to serve the US market.

Being a digital player their aim is to be quick, simple and paperless (more rare than you might imagine in Trade Finance).

I am delighted to be joined today by Guy Willans, Trade River’s COO whose varied career – from Sandhurst, working around the world, an AIM listed dot-com, importing, sales and twelve years at HSBC et al certainly provide a rich enough background to discuss Trade Finance in the round and in context.

Topics discussed on the show include:  Continue reading

LFP078 – Special Episode! 30,000 Feet Guide to UK Property Investment in the Fintech Age with Alex Michelin, founder CapitalRise

We all know that buying a property in the UK is a nightmare, that property prices are through the roof, that a first time buyer in London has an average age of 39 and that the “Bank of Mum and Dad” now has to contribute to around a third of first time purchases. Yet most folks in the UK are owner-occupiers and have to go through this.

How can Fintech help?

I’m delighted to be joined today by Alex Michelin, a former investment banker turned highly successful property developer, who not only has been immersed in this for over 15yrs but who recently founded CapitalRise a Fintech property portal. The team of eight at CapitalRise has over 75yrs of direct retail investment experience between them and the co-founders Alex and Andrew Dunn, who have acquired, developed and sold over £1bn of real estate. CapitalRise has been spun out of the highly successful top-of-the-market luxury property developers Finchatton.

Given the “challenges” (<coughs>) of the UK property market how can Fintech help? Before we get to that Alex sets the scene with an overview of all the many ways one can get exposure to UK property. So by the time we get to Fintech y’all should have a good idea of where it fits in, what it disrupts and its potential relevance to you.

Topics discussed include:  Continue reading

LFP075 – Managing Fintech Rebundling with Nikolay Storonsky CEO of Revolut

One of the founding ethos of Fintech was “unbundling” – the slicing of FS into single-issue firms. This is now looking old-hat. Revolut acquired 500,000 customers in less than two years by offering interbank rates on FX transfers and so was one of the most successful of Fintech 1.0.

Now they are leading the way with Fintech 2.0 offering a whole range of products. Managing this transition with respect to both “the brand” and “the app” is not trivial and I am delighted to be joined today by co-founder and CEO Nikolay Storonsky.

Unlike Monzo who have gone down the banking route but Revolut have remained with the simpler/cheaper/faster but narrower e-money issuer licence.

 

Topics discussed on the show include: Continue reading

LFP073 – The Second Wave of Digital Wealth Managers with Adam French co-founder Scalable Capital

Investment management – despite its known deficiencies – has been least disrupted perhaps so far by “Fintech”. The first wave of I.M. Fintechs (pre- & up to 2015) promised “democratisation” but have made relatively little headway. The awfully named “roboadvisers” are neither robo nor advisers but are ludicrously hyped.

There’s also the rather challenging question of what is there to be disrupted if ETFs (see LFP058) can be bought for roughly zero commission and have minimal fees.

Against this background I was delighted to come across Adam French – he and two other ex-Goldman Sachs colleagues launched Scalable Capital in both the UK and Germany a little over a year ago, and, as befits their background, really know of what they speak. They also have the advantage of befitting from V1.0 of the great “digitalisation of wealth management” experiment and can better design V2.0. They claim to be Europe’s fastest growing “online wealth manager” with around 4,000 clients, £150m of assets under management, and have a tie-up with ultra-blue-chip Siemens to power their employee benefits platform in Germany.

Topics discussed include:  Continue reading

LFP070 – Fintech & the UK Mortgage Advice Market with Ishaan Malhi Founder & CEO Trussle

Trussle are the UK’s first online mortgage broker, have just raised £4.5m in a Series A and have an exclusive partnership with the FTSE listed property search giant Zoopla. So they are doing well for a two year old startup 🙂

I am joined today by founder and CEO Ishaan Malhi to discuss why this sector is so important.

As often it’s the old-fashioned and unsexy stuff that is ripe for disruption. In the case of mortgage advice though there is another astounding nanny state regulatory change that has made it even more important to have a low cost Fintech solution.

In essence (FCA summary here) in the UK if you want to keep certain legal protections (not defined but being able to complain about mis-selling appears to be one) you must take mortgage advice :-!  And this advice can be quite expensive as we shall hear.

And if you want to talk about a world orientated around the 0.1% (corrupt state?) if you are part of the 0.1% – then like taxes you don’t need to bother! Golly gosh. And if you think I exaggerate check out the FCA’s webpage in re.

So can Fintech ride to the rescue?

Well apparently it can, although what is defined as “advice” is very fluid in a world spanning old-fashioned advice and more automated Fintechs.  In LFP069 we discussed advice on your asset side of the balance sheet. In this context LFP070 is about advice on the liabilities side of your balance sheet.

Trussle’s strapline is:

The hassle-free way to get a mortgage online. We search more than 11,000 deals from 90 lenders to find the perfect mortgage for you.

Not only that but you can enter your mortgage details at the moment and they will monitor all those deals on an ongoing basis and let you know

All this and more is discussed on the show, including: Continue reading

LFP069 – IFAs, Fintech & Roboadvisers with Dan Kiernan Research Director Intelligent Partnership

IP banner for London Fintech Podcast“Everyone” frets over financial advice in the Fintech Age. Regulators set out to “protect the consumer”, worthy bodies talk no end about the need to protect “people” (never themselves oddly – generally they imply (/mean) folks of lesser education/wealth) and the rest of us are just confused over the labyrinthine rules around tax, savings and investments.

Needless to say a myriad on rules and regulations and the implicit costs of this suprastructure all act together in a Kafkaesque way to produce the opposite result – known as “the advice gap”.

In Fintechland breathless media and PR firms high on sugar, caffeine and other stimulants promise us a golden era of so-called “roboadvice”.

Dan KiernanHow to make sense of all this?

I am delighted to be joined today by Dan Kiernan Research Director at Intelligent Partnership “the UK’s leading provider of research, training and events on Alternative Investments” to cut through all this and to give us insights into why advisers are not recommending eg P2P to their clients when it has outperformed bank deposits for more than a decade.

On the show today we discuss all of the above and: Continue reading

LFP068 – The London Fintech Podcast’s 2016 Highlights and 2017 Awards

Dilbert by Scott Adams - Fintech 2016 turns into Fintech 2017Happy New Year boys and girls 🙂 May 2017 be a great one for you and yours! This is the New Year Special where I look back at my 9 highlights from 2016, dish out 10 immensely prestigious awards  and take a peak at 2017.

So without futher ado lets kick off the awards… Continue reading