Fintech Finance Podcasts: The FF Salon – Détails, épisodes et analyse

A third of global trade now comprises digital platforms and services.

But this shift means financial institutions face new pressure to change the way they do things. Vivek Ramachandran, leads Global Trade Solutions for HSBC, an institution with a long and rich trade history. 

For the latest FF Virtual Arena, we caught up with him to get his perspective on what’s changing and, in advance of a Beijing hosted Sibos, what China and more broadly Southeast Asia’s role is in trade finance.

Watch the conversation to find out more.  

In this insightful interview, Ramachandran gives us a solid overview of the current and future trends that are transforming the world of trade. HSBC have been in the business for more than 155 years and they continue to play a crucial role in the global trade finance ecosystem.

Our Virtual Arenas are all about speaking to the experts and as Head of Global Trade Solutions, Ramachandran knows a thing or two about this space. Of the insights we’re given, none is more interesting than how much trade in services has grown compared to traditional goods trade. Historically, trade was predominantly about shipping physical goods, but according to Ramachandran now services such as cloud solutions and digital platforms constitute nearly 30% of global trade. And according to the WTO, digitally delivered services now equate to 54% of all services exports in general. It makes a big difference. For banks like HSBC it means adapting to new business models and getting tooled up to support companies operating in this new age.

Global supply chains are being fundamentally reshaped due to factors such as geopolitical pressures, cost considerations, sustainability goals, and the need for resilience. As a result, Ramachandran points out that they’re becoming more complex – some are getting shorter and others are expanding. As businesses shift their supply chain strategies, the need to manage risks, and consider sustainability and the impact of trade on the environment, has become paramount. Like many, he believes that being sustainable is no longer a “nice to have” but a “must have” and companies are now expected to address environmental and social concerns not just within their own operations, but throughout their supply chains.

For Ramachandran, sustainability now includes transparency on issues like emissions, forced labor, and supply chain safety. Financial institutions like HSBC want to help their clients solve these issues but also be seen as experts in the matter. 

We also find out about new business models in trade, especially in the realm of digital commerce. Given more and more B2B trade is now taking place digitally (as well as concerning digital services), there are increased challenges in understanding and managing new types of counterparties. Data also plays a role. Ramachandran discusses the anonymity of digital transactions and the new data these transactions generate, which require new digital decision-making tools and customer onboarding processes. 

He also provides a balanced view of the impact that cutting edge technologies could have. While early discussions about distributed ledger technologies and blockchain were promising, the path forward appears to be more government-driven initiatives like the UK Electronic Trade Documentation Act and the adoption of electronic records transfer laws by countries like France, Germany, and Singapore. These initiatives are paving the way for the future of trade digitization, but like many speakers we talk to, Ramachandran emphasizes that technology must be seen as an enabler, not an end in itself.

Of course, given the growth happening in the Asia-Pacific region, and particularly Southeast Asia, we wanted to know about developments in trade finance here. It’s a region at the heart of many of the global trends in trade, such as the restructuring of supply chains and the booming e-commerce sector. He highlights how countries like Vietnam, Malaysia, and Indonesia are becoming major hubs for new manufacturing supply chains, while Singapore leads in trade digitization. He praises Singapore for its innovative initiatives, including its National Trade Portal and its adoption of UN laws governing electronic trade.

We also hear about the annual Sibos event which this year is being hosted in Beijing, for the first time. The location potentially causes some difficulty to other attendees but Ramachandran expresses excitement about the opportunity this presents, particularly given China’s thriving digital economy and innovation in areas like deep-tier financing. He also notes that China remains the world’s largest exporter and is increasingly investing in overseas markets, offering numerous opportunities for both Chinese and global businesses. HSBC themselves have made strategic partnerships in China, to support e-commerce exporters with financing based on transaction data.

There are further points discussed so be sure to check out the whole interview and discover more great conversations just like this one on our website. 

These areas of fintech are still getting plenty of investment.

In a funding environment that has its ups and downs, there is definitely good news for startups seeking funding.

We had the pleasure of speaking to Andre De Haes, founder of Backed VC, to find out what being “a maverick fund” looks like in practice and what they look for in successful fintech founders and startups.

We talk about how the European funding environment has changed in recent years and much more.

Backed VC are “determined to do European venture capital differently”. Certainly their brand sticks out as slightly more rock and roll than some of their venture capital compatriots. According to De Haes, doing things differently involves bold bets in under-invested sectors, long-term thinking, and a distinctive culture of founder engagement.

He gives examples of their early bets on blockchain gaming, an area that seemed unconventional at the time but has since produced massive valuations, particularly with investments like Axie Infinity and Immutable X. Backed’s approach is also reflected in how they interact with founders, a relationship that often includes excursions and activities, all in service of forging long-term partnerships that go beyond the traditional fund-founder dynamic.

They focus on a few specific verticals, one of which is fintech and De Haes explains that Backed’s sector choices were born out of strategic thinking. They honed in on four key multi-trillion dollar industries ripe for disruption: computational biology, manufacturing software, Fintech infrastructure, and AI-driven drug development. They’re certainly exciting on the face of it and not only do they hold tremendous potential for tech innovation but also provide Europe with a strategic advantage over the U.S. In the interview above, De Haes points out how few VCs are tackling these challenging industries and emphasizes how Backed is leading the charge in areas like AI-driven drug discovery, a field relatively untouched by VCs.

The conversation also covers the evolving funding landscape, particularly the sharp valuation drops in later-stage funding rounds. There’s definitely been a number of changes in the ecosystem recently, with more funding even coming from Private Equity. Here, De Haes provides an insightful and thorough breakdown of the post-2022 revaluation environment, explaining that while seed stage funding has only seen minor corrections, later rounds have experienced significant declines in valuation. Interestingly, he notes that these downturns provide opportunities for investors willing to cherry-pick undervalued but strong companies.

In one of the more forward-looking segments, they discuss the future of blockchain and decentralized finance (DeFi). De Haes shares his belief that the mainstream adoption of blockchain will happen largely “invisibly” through back-end applications that consumers may not even realize are leveraging blockchain technology. He envisions broader institutional adoption and even the possibility of government-backed blockchain systems in the future.

There’s also some valuable insights into what Backed looks for in founders. We’ve asked a number of other people in the industry what they look for and it’s interesting to see how their advice compares. De Haes emphasizes the importance of “founder-product fit,” grit, execution speed, and commercial acumen. He shares fascinating examples of founders like Quinn, who is revolutionizing liver therapeutics with AI, and the seasoned team behind Travisory, who are disrupting border management systems. For De Haes, it’s not just about finding brilliant founders but those with a unique “right to win” in their specific domain.

Watch the video to find out more about the London Fintech Network, and get even more detail on the above topics. It’s a really interesting insight into the world of venture capital. Watch more conversations just like this, on our website.

The Paytech Show is back and this time we’re looking at a partnership that perfectly captures what is possible with BaaS.

In this episode we speak to Noah Sharp, CEO of Vodeno, and Neil Chandler, CEO of Aion Bank, to find out how Vodeno’s unique platform works alongside Aion Bank’s ECB license to enable non-financial companies to offer banking services without regulatory burdens.

Below you’ll read more about their thoughts on where BaaS is heading and the potential for embedded banking to meet modern digital needs.

In this episode we delve into the intricacies of Banking as a Service (BaaS) and the specific approach that our interviewees have taken. Sharp explains Vodeno’s unique positioning as a robust BaaS and embedded finance platform built entirely on the cloud and a private blockchain, where the ledger is managed by smart contracts.

Not only that but their platform is complemented by Aion, a regulated bank based in Belgium, a tier-one regulatory jurisdiction, facilitating the distribution of regulated services and ensuring compliance. This combination allows Vodeno to serve both non-financial companies looking to offer financial services without becoming regulated entities and regulated firms needing specific solutions without the full regulatory burden.

To explain more, Chandler emphasizes how important regulatory compliance is and points out that many BaaS providers face challenges because they underestimate the importance of regulation. Our guests avoid this pitfall by being intrinsically connected, with Aion Bank’s full banking license ensuring that regulatory obligations are taken seriously.

The show also addresses current issues in the payments industry, such as challenges around cross-border payments in continental Europe. Unlike the UK, where open banking and instant payment schemes like Faster Payments facilitate efficient domestic transactions, Europe struggles with varied API robustness and cross-border payment complexities.

Companies must often adopt localized approaches to handle payments effectively, which complicates centralization efforts. Here, BaaS providers play a crucial role, offering more comprehensive financial services than simple payment service providers (PSPs), especially when deeper financial functionalities such as credit lending or deposit protection are required.

Embedded banking, or embedded financing, is highlighted as a customer-centric approach, operating on a B2B2C model. This means the bank’s products are designed to meet the end customer’s needs, often delivered through retailers or marketplaces.

For example, customers don’t want a Buy Now, Pay Later (BNPL) service for its own sake; they want the product it helps them acquire. Aion Bank and Vodeno understand this dynamic, focusing on providing digital experiences that align with customer desires. It’s an informative episode that also includes thoughts from Chandler on what the future holds for BaaS, so be sure to tune in above.

In this episode of the Paytech Show, Grant Truter from BPC, Bruce Paveley from TymeBank, and Dieter Botha from Tyme Group, uncover a partnership that is revolutionising banking in areas like South Africa.

We hear about the successful integration of digital and physical banking solutions and the implementation of BPC’s seamless card issuance.

The story of TymeBank itself is also inspiring and shows incredible growth delivering services to an underserved population. In this great episode we hear about the factors that have made that happen from cloud scalability and collaboration.

BPC Chief Commercial Officer, Grant Truter, talks about how their partnership with TymeBank allowed them to realise their vision of merging digital and in person banking experiences. Their omni-channel solution would include self-service channels for customers and allow them to build a digital bank from the ground up, with BPC providing the necessary technological backbone. It’s a classic case of a technology partner making a vision happen.

Bruce Paveley, CTO of TymeBank, elaborates on their history and mission. From beginning as a money remittance service they evolved into a full-fledged banking platform about seven years ago. High banking fees have excluded many South Africans from financial services which is what they wanted to address. In a cash heavy society wanted to build trust in other forms of banking and payment, through reliable and always-available systems. This is where BPC’s SmartVista platform came in, along with the technical support they can offer.

That’s not it however. We also get insight from Dieter Botha, Group CTO for Tyme, who provides a broader perspective on TymeBank’s operational strategy and future plans. TymeBank was their first bank and they’ve since developed another in the Philippines.

Botha notes that TymeBank’s approach involves building and operating banks profitably, and after their current successes they’re now eyeing Vietnam for further expansion. Botha introduces the concept of “phygital,” combining physical and digital elements to enhance customer engagement. In South Africa, that means employing self-service kiosks in retail stores, allowing customers to open bank accounts and receive personalised Visa debit cards within minutes, facilitated by biometric verification.

This model has been successful, with TymeBank issuing approximately 500,000 cards per month across its operations in South Africa and the Philippines.

The interview is a perfect example of a partnership that has successfully blended advanced digital technologies with practical physical solutions to drive financial inclusion. In the areas they operate this is ground breaking. Tune in to find out more and see how this could be replicated elsewhere.

If you would like to learn more about the BPC x TymeBank case study – read the full story here.

Find out how fintech is changing the retail investment space.

In this episode of the Fintech Show we’re joined by Boaz Yaari from Sharegain and Yorick Naeff from BUX for a fireside chat on the evolution of retail investing and the new revenue streams that banks can unlock.

Together, they explore the changing landscape of retail investment, predict future trends like non-purpose lending, and we find out how their companies got started. 

There’s no denying the boom that retail investing has experienced in recent years, particularly in the wake of the pandemic. Now, many consumers are looking for ways to grow their wealth and take control of their savings and investment journey, rather than relying on banks to do that for them. US stock trading volumes saw an enormous spike in 2020 and 2021 due to the immense rise in retail investing. Even neobanks are adding investment products to their offering, with great interest. Monzo got 200,000 sign ups to their investment account waiting list in just two days.

It’s in this context that both Yaari and Naeff started their companies. Both CEO/co-founders here reveal the stories that led them to where they are now. Boaz traces his path from FX derivatives trading to securities lending, recognising an untapped opportunity akin to Airbnb but for securities lending. Despite skepticism from others, Yaari’s pattern recognition and determination spurred him on to pursue Sharegain.

On the other hand, Naeff’s background in financial services and tech converged when he observed the barriers hindering retail investors from entering the market. Collaborating with a colleague, they conceptualized BUX to democratize retail investing, leveraging the rise of mobile applications. Their shared vision aligned perfectly with the evolving market, particularly the increasing demand for accessible and intuitive investment platforms. 

The conversation, which took place in our studio, delves into the dynamic shifts within the retail investing landscape. Our speakers emphasize the growing influence of private investors, particularly younger generations with a savings and investment-driven mindset. They predict a trend toward non-purpose lending, foreseeing a revolution in the lending space that could empower investors to leverage their portfolios for various financial needs. 

Highlighting the symbiotic relationship between Fintech and traditional financial firms, Yaari and Naeff stress the advantages of agility and expertise exchange. Yaari underscores Sharegain’s unique position in securities lending, while Naeff emphasizes BUX’s collaboration with industry giants like BlackRock to tailor investment packages for retail investors.

Stick around until the end also, because they have great advice to offer aspiring founders also. That includes the importance of assembling the right team, focusing on long-term growth, and staying resilient amidst challenges. 

Yaari reflects on Sharegain’s pivot towards sustainability and profitability, a testament to the team’s adaptability and perseverance. Similarly, Naeff celebrates the creation of a new market for independent agency lending, underscoring the transformative power of innovation in overcoming market barriers. It’s a really exciting area that could present new revenue streams for banks. 

Tune in to find out more. 

The potential of digital assets for financial institutions is huge.

No matter where you stand on crypto, CBDCs and DLT, there's no denying the space is moving fast.

For our latest Virtual Arena, we gathered a panel of speakers including Sabih Behzad from Deutsche Bank, Alex Gatiragas from G+D, and Teana Baker-Taylor from Crypto UK to find out how financial institutions are getting on board and what this might mean for consumers.

In this revealing discussion our expert speakers identify key areas of opportunity, the need for regulatory clarity and the importance of helping consumers with custody of their assets.

️ "We will be able to offer new products we can't even envisage today."

️ "The real innovation is happening in the open source space."

️ "We're starting to see more regulation for stable coins."

Tune in for these great insights and more.

In this episode of the Fintech Show we’re talking risk management and fraud prevention in the receivables finance sector. We speak to Ahmed Amin and Andrea Tanner from Lenvi, to find out about their work and how their software Riskfactor could hold the key to better processes in this area of finance.

Risk management in banking is as big of a concern as ever, with liquidity under pressure from high interest rates and challenging economic conditions. In this video we hear about the market dynamics affecting lenders right now and what is needed to effectively manage a growing portfolio.

There are also understandable concerns about fraud, something which poses a threat to any financial institution. The cost of fraud is huge, and according to this McKinsey report, “In 2022, the FTC reported that scams were up 49 percent from 2021, with consumers losing nearly $8.8 billion.” Nascent technology is also potentially exacerbating the issue, with AI driven fraud increasingly coming to the forefront.

Our speakers are perfectly placed to discuss the issue, as Lenvi recently released their own report oAn being prepared for Fraud. Their 2023 European Fraud Readiness Report uncovered attitudes towards and concerns around Fraud in European Receivables Finance in particular.

Some of the findings include almost 90% of respondents feeling that fraudulent activity has increased in the last year. 70% said fraud is a significant risk to their receivables finance business in particular. Most concerning is that almost one in three respondents believed their company detected no more than half of the attempts made to defraud their business.

Alongside this research, Sales Director Amin and Head of Customer Success Tanner, bring decades of experience in financial services, banking and receivables finance to this insightful conversation.

The discussion delves into Riskfactor’s functionality, highlighting its ability to leverage data from core operating platforms to detect changes in behaviour, indicative of fraud. By streamlining this whole process it means employees are better placed to take action and be more efficient.

There’s also talk about how partnerships with third-party software vendors play a crucial role in expanding the reach of their software to global markets. We hear about their European expansion and the recent release of Version five, which boasts improved user interfaces and enhanced data functionality.

Despite economic uncertainties and an uptick in fraud, there’s a lot of optimism here as a growing emphasis on automation and improving internal processes in receivables finance could change the game. Risk factor’s risk-based approach and ability to cater to diverse client segments, especially SMEs, position it as a valuable tool in navigating evolving market dynamics and managing portfolio growth efficiently.

Riskfactor could play a pivotal role in your business and this video explains why. Watch to find out more.

Introduced in July 2023, the FedNow service was launched for US banks to provide a new instant payments infrastructure across the country. Participating financial institutions can now give their customers the ability to send and receive money in seconds.

In this latest installment of the Paytech Show, we have the privilege of hearing from industry experts who give us an insight into the impact it’s had. 

Anu Somani, Senior Vice President at U.S. Bank, Nick Botha representing AutoRek, and Minal Gupta from Star One Credit Union all explore the landscape of FedNow’s impact in the United States, shedding light on the critical factors banks must consider to unlock its full potential.

According to some sources, FedNow has not been a resounding success, but its user base has undoubtedly grown significantly and the pioneering financial institutions we spoke to attest to it being a game changer. Our show above includes ‘real-time’ perspectives on this ever-evolving area of payments.

Nick Botha draws attention to one key strength of FedNow: it has the backing of the Federal Reserve. With FedNow already operational in over 464 financial institutions across the US, Botha underscores the importance of this endorsement in instilling confidence and catalyzing adoption among banks and financial institutions nationwide.

Minal Gupta and Anu Somani enrich the conversation with their firsthand experiences and observations of the new FedNow system. Star One Credit Union, where Gupta is SVP, have been vocal about their support of FedNow. Both these banking experts emphasize the critical role of streamlining reconciliation processes, highlighting its significance in ensuring operational efficiency and seamless integration of FedNow into existing banking infrastructures. Somani in particular stresses that payments transformation needs to be thought about holistically. 

Their insights offer valuable guidance for banks seeking to maximize the benefits of FedNow implementation.

To add to this, Botha delves into the transformative potential of automation in optimizing banking processes and unlocking new revenue streams. It’s clear that liquidity is a major concern for anyone going on the journey of instant payments, and it’s here that automation plays a key role. 

It’s one of the reasons why AutoRek has been selected as part of the FedNow service provider showcase which has been put together to give these providers an opportunity to connect with institutions and banks looking to implement instant payment products into their offering.  

Join us as we delve deeper into the implications of FedNow for US banks, exploring strategies for success and navigating the complexities of this groundbreaking era in payment technology.

In this episode of the Fintech Show we speak to Trevor Tannenbaum from the Cambridge Building Society, Michelle Yu and Jennifer Harris from Sandstone Technology and Tina Hughes from Yorkshire Building Society to find out how the future of building societies rely on embracing digital channels.

Building societies have a promising future ahead where good customer service entails the use of effective digital channels. As shown by Nationwide’s recent moves to acquire Virgin Money, there’s plenty of potential for this breed of mutually owned financial institutions in the UK. The question is what technology do they need to move forward. 

In this episode of the Fintech Show we spoke to Trevor Tannenbaum from the Cambridge Building Society, Tina Hughes from Yorkshire Building Society and Michelle Yu and Jennifer Harris from Sandstone Technology to find out how building societies are embracing digital channels.

Of course, digital transformation doesn’t always come easily and can be very costly. In the event that something goes wrong, and customers are affected, fines could be handed out, as TSB found out. So it’s understandable that some financial institutions are hesitant about going down this road. But it doesn’t have to be this way and there are numerous strategies for updating your services, without disrupting good customer service. 

Sandstone Technology are perfectly placed to explain how technology can be implemented into the banking and customer experience of those using building societies. In the video above, Sandstone CPO Yu, who we also spoke to in a recent virtual arena, emphasises the importance of digital channels for building societies to stay relevant, whilst Chief Customer Officer Harris explores the challenges they face in adopting new technology.

Harris recognises that moving away from or adapting legacy technology is time consuming. However, as you’ll see, the benefits outweigh the concerns and technology providers like Sandstone ensure that whatever new products or channels you want to add, they integrate seamlessly with the existing stack. 

No conversation on this topic would be complete without talking to building societies themselves. We were fortunate to speak to representatives from two of the UK’s premier institutions, Yorkshire Building Society and The Cambridge Building Society. 

In the episode, both Hughes from YBS and Tannenbaum from CBS reveal their respective organisation’s approaches to digital transformation and we hear some success stories that have come about through changes they’ve made. That includes Tannenbaum explaining how their mobile app has become their most popular channel for customers interacting with the bank.

YBS, who now see 70% of new accounts opened online, are an organisation always striving to provide a good digital service, however there are also considerations to be made about striking a balance between in-person and online experiences. Hughes echoes some comments that Yu makes about making sure older demographics are not left behind and are given a good in-store experience that can serve their needs too. 

Ultimately, all our speakers agree that a multi-channel approach that integrates and offers the same level of experience across the board is needed. 

In this episode of the Fintech Show, we speak to Mike Kresse from FIS, Marc McCarthy from Kani Payments, Sabrina Tharani from Mastercard and West Richards from ATPC, to uncover the increasingly pivotal role partnerships play in navigating the evolving American payments industry. Kani Payments CCO McCarthy highlights their recent entry into the US, at a time where streamlining reconciliation couldn’t be more important and Kresse, an SVP at FIS, provides some insight into the impact of FedNow.

We also hear from Mastercard SVP Tharani who heads up their Start Path programme, on how they’re committing to fostering partnerships with innovative companies like Kani to address key industry challenges. In Atlanta, West Richards, Executive Director of the American Transaction Processers Coalition (ATPC) sheds light on their mission to assist European companies navigating the complexities of the US market.