Chris Skinner Invests in Meniga, a White Label Digital Banking Solution

Chris Skinner, a Fintech industry commentator, author, speaker, and publisher of the Finanser blog, has invested in Meniga, a digital banking solutions. Skinner has been part of the Meniga Advisory Board since 2011.

Based in London, Meniga works with some of the world’s largest financial institutions, such as Santander, Intesa, ING Direct, Commerzbank and mBank, to improve their online & mobile digital environment.

Skinner is Founder and Chair of The Financial Services Club, the European network that is dedicated to shaping the future of financial services. He has been voted one of the Fintech leaders you need to know by City AM, one of the Top 40 most influential people in Fintech by Financial News and Game Changer of the Year and Financial Markets Advisor of the Year by Finance Monthly. He been an advisor to the White House, the World Bank and the World Economic Forum.

Skinner released a statement on his equity investment in Meniga saying  the company was at the forefront of innovation in the digital banking space;

“I have become a shareholder as I strongly believe in both the value of Meniga’s products and the market opportunity. Meniga is well-positioned to help institutions prepare for open banking and leverage the power of their own customer data to drive more meaningful engagement in their digital channels,” said Skinner.

Bragi Fjalldal, Chief Marketing Officer and Vice President of Business Development at Meniga, added that Skinner has been invaluable as part of their advisory board and they were thrilled he had become an investor;

“ We are looking forward to continuing to work in close partnership with him to transform the way financial institutions use data to personalise their digital customer engagement.”

The investment from Skinner comes after Meniga recently announced that it has become the first personal finance software provider to partner with Spanish bank IberCaja, as part of the bank’s drive to improve its digital offering.

 

Chris Skinner, Author of the Finanser, Joins The Token Fund’s Advisory Board

Chris Skinner, creator of the Finanser blog, has joined The Token Fund’s advisory board. The Token Fund said the addition of Skinner would enhance the fund’s strategy as it launches a new platform for crypto funds and investors.

Skinner’s blog regularly comments on the future of banking, finance and technology. Skinner has been recognized as the “Best Blog” title by The Financial Brand and one of Financial News’ “FinTech 40” most influential people in financial technology.

“Chris has been in finance and technology for many years and profoundly understands how the things work on both sides – traditional financial institutions and cutting edge technology products,” stated Vladimir Smerkis, Managing partner and Fund Manager of The Token Fund. “We believe Chris’ expertise will not only benefit to all of our clients but also become a vital asset in building up our next project which aims to engage more traditional investors to the crypto market”.

The Token Fund is a managed investment Fund for cryptocurrency and blockchain projects and is designed to provide a painless entry into the crypto world with a diversified portfolio.

Skinner said the Token Fund opens the gates of crypto for traditional investors;

“I see it as a curtail tool for the industry transformation,” – says Chris Skinner. –“The current rise of the crypto market proves the transformation of the financial industry to be a non-reversible process. The traditional capital players who so far have been reluctant to changes are being forced into the token trade. As it happens, the early comers will have a leg up”.

The Token Found is expected to make additional announcements regarding its team over the next few weeks. Management wants to assemble the best set of expertise on the market for the new product launch which will be announced to the public later this month.

Bridge to Asia: LATTICE80 Partners with Nordic Finance Innovation

 

 

 

LATTICE80 and Nordic Finance Innovation (NFI) have announced a new partnership to “bridge Asia and the Nordic’s Fintech ecosystems.” LATTICE80 is the creation of Marvelstone Group, a private investment firm.  The two entities signed a Memorandum of Understanding (MOU) to seal the agreement.

Singapore-based LATTICE80 is said to be the largest Fintech hub in the world. The new partnership with NFI will expand LATTICE80’s reach into northern Europe. LATTICE80 said the Nordic’s future as a Fintech hub represented enormous potential.

The partnership will strive to raise awareness of Fintech’s potential between Asia and the Nordics. The two groups will initiate office space sharing, events collaboration, in-country exclusivity, exchange programs for members, and the leveraging of mutual contacts and networks. LATTICE80 and NFI believe that through cooperation with each other they will be able to bridge the fintech ecosystems between Asia and the Nordics. Chris Skinner, Chairman of NFI, will be actively involved in overseeing the partnership.

Joe Seunghyun Cho, CEO of LATTICE80 and Chairman of Marvelstone Group, commented on the announcement;

“We are delighted to join forces with NFI, our first partner in Europe, in our mutual ambition of bridging the fintech ecosystems between the Nordics and Asia. I’ve been working closely with the NFI team recently and it’s a pleasure to be able to assist each other on this journey. We look forward too welcoming fintech startups from the Nordics to Singapore and our other hubs in Asia, and vice versa – we are certain our fintech startups in Asia will be thrilled by the opportunity to experience the Nordic culture, business and regulatory environment, and networking opportunities.”

Iren Tranvåg, CEO at NFI, said his group wants to build global bridges with LATTICE80 and strengthen their relationships with the Asian market.

“We believe that there is a good match when it comes to business culture combined with a drive force to innovate. With these characteristics, they may be used to cooperate as a test environment for new services and provide access to the wider markets of Nordic and ASEAN respectively.”

The two groups pointed to the report; “Innovation Delivered: Fintech Disruptors 2017,” sponsored by DNB, 72% of respondents expect the Nordic region to be the world’s leading hub by 2020.

Meanwhile, 42% of Nordic financial institutions surveyed want to expand their existing partnerships with Fintech firms in addition to the 74% that want to create new partnerships, this suggests a healthy relationship between banks and Fintechs. Additionaly, 42% of Nordic banks surveyed also intend to set up fintech incubators, nearly double the 24 per cent of banks seeking to create incubators across the rest of Europe.

Singapore, as a country, has targeted Fintech innovation as strategically important. Typically the country is mentioned side-by-side with London as the two most prominent Fintech hub’s in the world. The Monetary Authority of Singapore (MAS) recently set up a regulatory sandbox framework for the testing of Fintech innovations similar to the UK.

On the development side, MAS has organized the Singapore Fintech Festival, the world’s first large-scale gathering of Fintech players, and has committed S$225 million (US$162.5 million) over the next five years to attract Fintechs to set up their innovation labs in Singapore.

 

Prosper Marketplace & Radius Bank Join Forces to Offer Personal Loans Through Online Lending Platform

Prosper Marketplace, an online marketplace that connects borrowers and investors, today announced that Radius Bank, a full-service bank serving consumers nationwide through an industry-leading virtual banking platform, will now offer a new personal loan option through the Prosper platform.

ProsperThe partnership integrates the Prosper marketplace lending platform with Radius Bank’s innovative approach to banking, providing easy access to apply for loans anywhere, anytime from any device at radiusbank.com. Investors commit to fund loans through the Prosper platform, and the loans are issued by a FDIC-member bank at a fixed interest rate, providing consumers with a powerful alternative to traditional bank loans.

Itzik Cohen, Chief Business Officer at Prosper Marketplace, shared:

“Radius is recognized as a bank providing a next-generation banking experience, just as Prosper Marketplace is using technology to offer the platform’s members a new and better way to borrow and invest money. We’re looking forward to working with Radius Bank to bring clients access to a personal loan product that offers competitive rates and transparent, easy-to-understand terms.”

Mike-ButlerHeadquartered in Boston, MA, Radius Bank is known for adopting the most advanced and secure technologies to provide its clients with greater flexibility and convenience through digital banking and forward-thinking strategic partnerships. Recent rollouts have included an upgraded online and mobile banking experience, streamlined mobile account opening, a student loan rewards pay down program in partnership with SmarterBucks and a branded solution high-yield personal checking account with Aspiration Partners LLC.

Mike Butler, President and CEO of Radius Bank, stated:

“We are challenging the traditional banking model by looking for new, innovative ways to bring exceptional products and services to market. Our partnership with Prosper Marketplace allows us to continue to fulfill that commitment, while also aligning us with a company that shares a digital, forward-looking approach to personal banking.”

During a recent interview with Chris Skinner, President of Prosper, Ron Suber revealed more details about the platform and what users can expect:

“We’re connecting people who want to invest their money, and get their money back with a return. That’s debt crowdfunding. This is very different to equity crowdfunding, which is investing in projects or companies rather than lending. In debt crowdfunding, long term, I’d see a day when there is a portal where people in the UK and Europe, South and Latin America, Asia, North America and all over the world, could all go onto a site and invest money. I also see this portal where borrowers and investors from around the world can go and meet. This is the beginning of innovation in these markets, and there is big growth in front of us. I’m more excited to be in this industry today than I’ve ever been.”

In regards to global peer-to-peer platforms and their futures, Suber added:

Ron Suber President Prosper 1“As data becomes more readily available and funding and capabilities of the leading platforms can process that data and create access to terms and loans for different people in different areas, it is possible. I also think investors around the world are all looking for the same thing. For example, I just got back from travels around the world including China and Italy, telling the Prosper story. There is no place in the world that investors aren’t looking for yields of short duration that reports interest daily and pays monthly, and that’s exactly what we’re doing here. There are also many benefits to the borrower around speed and convenience. People who apply for a loan through

 

“Prosper can be at home 24 hours a day and have a great experience. They don’t have to put on a suit and walk out to the bank and hope that a loan officer would give him a loan, like my father did. Online marketplaces for credit are far more efficient for investors and borrowers, to meet and do business together.”