Category Archives: Press Releases

Announcing New FFCON19 Keynote Apr 3: JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

Jon Medved, CEO OurCrowd will make a special appearance and deliver a keynote at FFCON19 on April 3 at Gowling WLG (Canada) LLP.  Jon originally spoke at this same conference back in 2015 when it was called CCS (Canadian Crowdfinance Summit). 
 
Jon medved ourcrowd - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments Since then OurCrowd has reached a new milestone: The global equity crowdfunding platform announced it reached $1 billion in commitments in six years. During the OurCrowd Global Investor Summit in Jerusalem on Thursday, founder and CEO Jon Medved said the company now counts 170 startups, 18 funds, and 29 exits.
 

While many of its startups are based in Israel, OurCrowd’s network of 30,000 registered investors hail from over 150 countries (although primary investors are based in the United States). Members average seven investments, with a portfolio size of over $350,000.

“Our portfolio is, by design, quite diverse,” Medved said during a press conference. “We have companies that run the gamut from drones to agtech, from cybersecurity to food technology, to consumer software and medical products, digital health, and big cloud data.”

Notable OurCrowd exits in 2018 include dual camera technology producer Corephotonics (by Samsung), electric scooter startup Jump Bikes (by Uber), and computer vision firm Invertex acquisition (by Nike).

 

'He's truly a money magnet, if you're interested in raising capital for early stage tech start-ups across all sectors, this is a talk you don't want to miss.'  Craig Asano, NCFA

 

Source:  NCFA

 


NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsFF Logo 400 v3 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitmentscommunity social impact - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
NCFA Newsletter subscribe600 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

REGISTER WITH NCFA 25% DISCOUNT CODE -> BLOCKCHAIN-19 (case sensitive)


NCFA Newsletter Banner Ad Blockchain  - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

NCFA Fintech Confidential Issue 2 FINAL COVER - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
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OsgoodePD Podcast Strictly Legal - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
HK - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
intellectual property and AI - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See:  JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
jamie dimon - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
vault door - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Kevin Sandhu - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See:  President ...
Read More
mavennet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
american dollar - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See:  How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
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top VC fintech insights - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital.  Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
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Europe - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

 

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Thanks to the CITY OF TORONTO for Sponsoring STARTUP DEALS to attend FFCON19!  Get one before they're gone...>95% SOLD Now

Coinsquare acquires BlockEQ to expand its cryptocurrency offerings

Coinsquare release | Dec 6, 2018

stellar wallet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsThe acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on
the Stellar platform into the Coinsquare ecosystem

TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies.

See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies

"We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond."

BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them to move on the Stellar network, at a fraction of the cost of moving any other assets in the world, with near instant settlement. Their innovative technology means increased user acquisition, and an incredible ability to scale into the quickly maturing cryptocurrency world. Coinsquare and BlockEQ will be working towards launching a huge number of crypto assets together, none more notable in the short term than an upcoming Coinsquare Stable Coin.

"We're excited to be working under the Coinsquare umbrella," said Satraj Bambra, CEO of BlockEQ. "Coinsquare was the reason we initially became interested in the cryptocurrency space, so when Cole and team approached us about coming onboard, it seemed like a natural next step."

See:  FINTECH FRIDAY$ (EP.18-Nov 16): Bridging the AML/ATF Gap with Financial Institutions and the New Economy with Charlene Cieslik, Chief AML Officer, Coinsquare

BlockEQ will remain its own entity, operating as a subsidiary of Coinsquare as the company continues to diversify its business lines and move toward becoming a 21st-century financial institution. Earlier this year, Coinsquare announced the launch of Coincapital, the portfolio and investment fund management division of the trading platform; and was recognized by LinkedIn as the fastest-growing startup on the Top Canadian Startup list based on the company's 92 per cent employee base growth from July 2017 to June 2018.

To learn more about Coinsquare, visit coinsquare.com. To learn more about BlockEQ, visit blockeq.com.

Source:  release


NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsFF Logo 400 v3 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitmentscommunity social impact - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
NCFA Newsletter subscribe600 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

REGISTER WITH NCFA 25% DISCOUNT CODE -> BLOCKCHAIN-19 (case sensitive)


NCFA Newsletter Banner Ad Blockchain  - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

NCFA Fintech Confidential Issue 2 FINAL COVER - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
Read More
OsgoodePD Podcast Strictly Legal - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
HK - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
intellectual property and AI - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See:  JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
jamie dimon - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
vault door - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Kevin Sandhu - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See:  President ...
Read More
mavennet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
american dollar - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See:  How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
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top VC fintech insights - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital.  Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
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Europe - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

 

VanFUNDING Brings Leading Blockchain, FinTech, RegTech, and Capital Innovation Experts to Vancouver #VF2018

VANCOUVER, BC / ACCESSWIRE / November 15, 2018 / VanFUNDING 2018: CONVERGE, an annual innovation, technology and capital event organized by the National Crowdfunding and FinTech Association (NCFA), will take place in Vancouver on November 29-30 at Parq Vancouver.

300x250 - VanFUNDING Brings Leading Blockchain, FinTech, RegTech, and Capital Innovation Experts to Vancouver #VF2018

The event showcases leading technologies and experts in blockchain, fintech, artificial intelligence and alternative finance that are making an impact on Canada, the capital markets and the world.

The event will feature over 50 speakers including Monique Morden, CEO of Judi.ai; Brady Fletcher, Managing Director, TSX Venture Exchange at TMX Group; Toufi Saliba, CEO of Toda.Network; Mark Wang, Director of Capital Market Regulation, BC Securities Commission; Paul Schulte, Managing Editor, Schulte Research; Rojin Nair, General Manager Fintech Solutions for Celero and more.

The event will also feature its annual pitching program that will award three "Front of the Line"Dragon's Den Golden Tickets and other prizes to the winning startups. Startups selected to pitch include Flux Network, Capiche Capital Technologies, Very Good Butcher, Squamish Canyon, Drive Hockey, Veme, Moca Estimator, Symend and HeyBryan.

As NCFA Canada CEO, Craig Asano states, ''We are witnessing unprecedented change that is already affecting our daily lives - how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, store, transfer, and purchase anything of value.''

The past year has been saturated with news about blockchain's capabilities and its potential to vastly alter traditional financial ecosystems. However, as Toufi Saliba, CEO of TODA Network, notes, ''The global penetration of [this technology] is less than 0.2 per cent, of which, the vast majority of blockchains are scams.'' While individuals should remain cautious about fraudulent businesses that have arisen from people looking to cash in on the hype, Saliba explains that the next wave of blockchain adoption and utilization will be ''like a tsunami, [where] you can partake in what's yet to be the most disruptive technology in human history, or ignore it and get disrupted."

This year's theme, CONVERGE, immerses participants in content covering new capital market innovation, decentralized models, computer intelligence, infrastructure, alternative investment opportunities and the evolution of the ICO and security token offering (STO).

''The ICO market has shifted towards securitized token offerings and we are pleased to be at the forefront of this change and enabling a true security token standard with Etherparty, which offers AML KYC controls on assets that are issued from financial institutions or companies looking to raise funds through equity financing,'' said Lisa Cheng, Founder and Head of R&D for Vanbex Group.

Save your spot: http://vanfunding.com/

Link to video: watch here

VanFUNDING wouldn't be possible without the generous support of The National Crowdfunding & Fintech Association of Canada (NCFA), Toda.Network, Judi.ai, Vanbex Group, Northern Block, FrontFundr, REITIUM, FintruX, Holt Accelerator, TIMIA Capital, JJ Human Capital, Schulte Research and more.

About the NCFA:

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Learn more About Us or visit www.ncfacanada.org.

Media Contact:

Brittany Whitmore
Exvera Communications Inc.
Brittany@exvera.com

SOURCE: National Crowdfunding Association of Canada

NetworkNewsWire Announces Collaboration with VanFUNDING 2018 as Official Social Media Sponsor

Newswire Release | Nov 15, 2018

VF and NNW - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsNEW YORK, Nov. 15, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company, today announces its participation in the upcoming VanFUNDING 2018: CONVERGE (#VF2018) conference, taking place Nov. 29-30, 2018, at the JW Marriott Parq Vancouver in Vancouver, B.C. NetworkNewsWire is the official social media sponsor of this leading fintech and capital conference, which will explore the explosive growth currently happening relative to blockchain, AI, fintech and funding innovations, global market developments and alternative investing opportunities.

“Our team is proud to be chosen as the official social media sponsor of VanFUNDING 2018,” said Jonathan Keim, communications director for NetworkNewsWire. “We look forward to lending our expertise in promoting the conference to our 1.6+ million followers via dozens of investor-focused brands, helping greatly expand the reach of VanFUNDING 2018 and its sponsors and exhibitors.”

As part of its sponsorship, NNW is featuring VanFUNDING 2018 on its website and the website of its sister brand CryptoCurrencyWire. NNW is also providing a summary profile for each conference partner and disseminating these profiles through its many social channels and robust editorial syndication network with 5000+ outlets to help expand the reach of the event’s sponsors beyond the conference halls.

“NetworkNewsWire is a leading news and publishing entity within the financial world, and we are excited to be including its team of experts among our sponsors at this year’s event,” said Craig Asano, founder and CEO of the National Crowdfunding & Fintech Association of Canada (NCFA), the organizational body presenting VanFUNDING 2018. “Their impressive syndication network, robust following and vast expertise make them a valuable partner to help promote this year’s immersive conference.”

The theme of the expanded, fourth annual VanFUNDING conference is “CONVERGE,” which centers on immersion and building bridges to connect today’s most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities that encapsulate the vision of a Web 3.0. The conference is a not-to-be-missed event for any fintech innovator, investment professional, company actively raising capital and key decision maker/stakeholder in technology and digital finance. The world’s premier fintech leaders, investors and emerging innovators will be in attendance, as will policymakers and representatives from government regulatory bodies with an eye on the future of finance.

For more information about VanFUNDING 2018: CONVERGE, visit http://vanfunding.com.

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer.

About VanFUNDING 2018

VanFUNDING 2018 is a not-to-be missed BLOCKCHAIN, FINTECH & FUNDING INNOVATION and ALT INVESTING conference that features high growth emerging technologies, regulations, game changing projects, the latest trends, deal flow, and investment opportunities. VF2018 brings markets to life with authentic dialogues and engaging stories that educate, inspire and resonate with innovative start-ups, scale-ups, investors, service providers, thought leaders, policy makers and financial institutions who are leading the next generation of finance. Connect with leading experts and learn how to build, buy or sell in Canada’s innovation finance markets. For more information, please visit: http://vanfunding.com.

About the National Crowdfunding & Fintech Association (NCFA)

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org.

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

 


NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsFF Logo 400 v3 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitmentscommunity social impact - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
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Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
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OsgoodePD Podcast Strictly Legal - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
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HK - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
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intellectual property and AI - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See:  JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
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jamie dimon - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
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vault door - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
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Kevin Sandhu - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See:  President ...
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mavennet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
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american dollar - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See:  How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
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top VC fintech insights - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital.  Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
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Europe - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

 

The Canada Border Services Agency Pilots IBM Maersk TradeLens Blockchain Solution

IBM Release | Oct 25, 2018

CBSA IBM and blockchain 1 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsThe CBSA is one of the first border agencies to join more than 94 organizations participating in global trade solution

More than 200 million events captured on the platform and growing by one million per day.

TORONTO, Oct. 25, 2018 /CNW/ - IBM (NYSE: IBM) and A.P. Moller–Maersk (MAERSKb.CO) today announced that the Canada Border Services Agency (CBSA) has agreed to pilot TradeLens, a blockchain-enabled digital shipping solution jointly developed by Maersk and IBM to promote more efficient and secure global trade.

To facilitate the flow of legitimate travellers and trade across the busy Canadian border, on an average day, the CBSA processes over 58,600 commercial releases, 14,400 trucks, 240,000 mail items, and 127,400 courier shipments, collecting more than $88,200,000 (CDN) in duty and taxes.

See:  How AI and Blockchain Have Changed Canada’s Business World

Like all global border agencies, the CBSA is constantly striving to increase efficiencies for the increasing number of people and commercial goods passing through Canada's ports of entry, while upholding national security and public safety priorities. The CBSA is participating in the TradeLens pilot to determine what role the platform could play in its business processes. Ultimately, the goal for the Agency is to see if this type of solution can help improve the quality and timeliness of commercial data, increase visibility to cargo movement past the first port of arrival and reduce the number of transactions necessary to make a release decision for shipments.

"This development is an example of the Government of Canada using innovative technology to easily and securely facilitate trade and engage in global trading ecosystems in a modern, productive manner," said John Ossowski, President, CBSA. "TradeLens could create a singular, trusted digital supply chain for all shipments entering Canada.  The TradeLens pilot gives us an opportunity to not only find process efficiencies and gain analytical insights, but improve data providence, accuracy and targeting capabilities. The end result may be a faster and more reliable national supply chain, which could positively impact Canada's economic output."

Maersk and IBM have worked with dozens of shippers, ocean carriers, freight forwarders, port and terminal operators, and inland transportation and customs authorities to identify opportunities to prevent delays caused by documentation errors, information delays, and other impediments facing the industry. TradeLens participants can track critical import and export data in real-time with a secure, non-repudiable audit trail.

Mike White, who leads TradeLens for Maersk, said "We look forward to working with the CBSA to pilot how the quality and timeliness of data in TradeLens can act as a catalyst for significant productivity gains and optimized financial cycles. Our goal is to play a leading role with all members of the World Customs Organization to help them attain faster processing of global trade data into a more effective, simplified structure and process that addresses their current challenges and future needs to improve the customer experience."

Maersk North America President, Omar Shamsie, added "We are delighted to see the CBSA pilot this solution to create a more productive and reliable ecosystem for North America supply chain competitiveness."

See:  The Future of Government… in a Digital Age

Maersk Canada President Jack Mahoney attended the signing ceremony, commenting "On a national level, Maersk Canada's strategic plan places great emphasis on the country's trade development goals – and the appeal of the TradeLens neutral platform solution is a key pillar of this."

Hosted on IBM Cloud and built on open industry standards, TradeLens has been proven to reduce the transit time of a shipment of packaging materials to a production line in the United States by as much as 40 percent, avoiding thousands of dollars in cost. Through better visibility and more efficient means of communicating, some supply chain participants estimate they could reduce the steps taken to answer basic operational questions such as "where is my container" from 10 steps and five people to, with TradeLens, one step and one person. This efficiency gain ensures that the remaining four personnel can then focus on more complex initiatives across the sector.

"We believe blockchain can play an integral role in digitizing and reinventing shipping for agencies like the Canada Border Services Agency, who are responsible for moving nearly 500,000 commercial transactions safely across Canadian borders daily. TradeLens provides a common approach to building a strong, secure and connected digital trade network that benefits all participants equally," said Ayman Antoun, president, IBM Canada.

"Our work with Maersk and other enterprises in the shipping ecosystem has shown that blockchain can be used to transform a vital part of how global trade is conducted as members like the CBSA and Port of Montreal begin to interact more efficiently, securely sharing important transactions through real-time access to shipping data and shipping documents."

The TradeLens solution is available today through a Limited Availability offering. TradeLens is expected to be fully commercially available by the end of this year.

For more information about TradeLens and what ecosystem participants are saying about this solution, please visit: www.tradelens.com.

Source:  release

 


NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsFF Logo 400 v3 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitmentscommunity social impact - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
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Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
Read More
OsgoodePD Podcast Strictly Legal - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
HK - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
intellectual property and AI - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See:  JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
jamie dimon - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
vault door - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Kevin Sandhu - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See:  President ...
Read More
mavennet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
american dollar - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See:  How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
Read More
top VC fintech insights - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital.  Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
Read More
Europe - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

 

Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth

Progressa Release | Aug 14, 2018

ProgressaLogo0516 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners.

The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019.

Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.”

See:  Upstart Vancouver eyes Toronto’s fintech crown

This latest financing round is anticipated to be Progressa’s last private round, as it has now raised over $15 million of equity capital since inception and begins to prepare for an IPO. Kia Besharat, Senior Managing Director and Head of Capital Markets Origination at Gravitas Securities commented, “We are incredibly excited to have supported Progressa over both its bridge and pre-IPO rounds in 2017 and 2018. Ali has assembled a world-class management team and has operated the business like a public company for as long as we have been working with him. We look forward to continue watching Progressa’s success in tackling the vastly underserved collections debt and retail point-of-sale finance market in Canada.” Gravitas has acted as Exclusive Financial Advisor to Progressa since May of 2016.

In the past 5 years, Progressa has established itself as a market leader in Canada by developing innovative software solutions for enterprise business that tackles a traditionally negative collections process in a positive and socially responsible way. Progressa’s solutions ultimately protect the enterprises' brand reputation, among other things, utilizing non-traditional credit evaluation techniques to improve lending outcomes. With additional lending capacity, the Company can onboard new banking partners and continue on its mission to help Canadians borrow for the right reasons and improve their financial well-being.

Miller Thomson LLP, a leading national law firm with expertise in, among other things, technology and financial services, assisted with the legal aspects of the Company’s equity round and loan purchasing program. Kevin Refah, who is the lead relationship partner for Progressa, commented, “Progressa’s new financial capacity will help position it well to continue its ascent in the Canadian FinTech space, and we certainly look forward to continuing to support Progressa and its excellent management team on the company’s impressive growth trajectory.”

See:  Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors

“Cypress Hills Partners is proud to have been a part of Progressa's impressive growth over the past 3 years and is excited by our continued financial relationship. Progressa has proven to be a leader in serving Canadian unbanked and underbanked consumers with their highly successful instalment loan program,” said Kelly Klatik, Managing Partner with Cypress Hills Partners.

“They have demonstrated steady and continued growth in consumer underwriting practices and significant advancement in their adjudication technology required to further scale their lending business. We are proud to work with them as they continue their expansion and innovation in the Canadian FinTech industry.”

Progressa is experiencing a truly transformative year, expected to near $100 million of loan funding before the end of 2018. With offices in Vancouver and Toronto, the Company has over 100 team members and continues to make significant investments in its proprietary credit score that drives all of its enterprise software solutions.

Continue to the original release --> here


NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Latest news - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsFF Logo 400 v3 - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitmentscommunity social impact - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
Read More
OsgoodePD Podcast Strictly Legal - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
HK - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
intellectual property and AI - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See:  JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
jamie dimon - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
vault door - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Kevin Sandhu - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See:  President ...
Read More
mavennet - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
american dollar - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See:  How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
Read More
top VC fintech insights - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital.  Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
Read More
Europe - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in Commitments

 

FCA publishes update on wide-ranging review of retail banking sector

WiredGov UK | FCA | Jun 28, 2018

Retail banking FCA progress update - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsThe Financial Conduct Authority (FCA) yesterday published an update on its Strategic Review of Retail Banking Business Models.

The Review is an in-depth and wide-ranging piece of work to give the FCA a greater understanding of retail banks’ business models, and how these may change in the future. This includes looking at how personal current accounts (PCAs) are paid for, the possible impact of technological and regulatory developments such as Open Banking and changes to payment services due to the revised Payment Services Directive (PSD2). It sets out the progress made on the analysis of the issues and planned next steps.

See:  New matchmaking service for small businesses looking for finance

The review is also critical to the FCA’s work on overdrafts. The FCA has already expressed concerns that some potentially vulnerable people are paying significantly more for their current accounts through unarranged overdraft charges and fees. In May this year, the FCA proposed a set of potential changes on overdrafts for discussion as part of its high cost credit work and will consult on any changes later this year.

The review shows that most current account customers contribute to their bank’s profits, but a small proportion pay significantly more than others – around 10% of customers generate between a third and a half of all contributions to profits from current accounts. The data also show that many consumers go to their current bank rather than shopping around when looking for other financial products.

For example:

  • 52% of PCA customers with credit cards have one with their PCA provider;
  • 48% of PCA customers with personal loans have one with their PCA provider; and
  • 32% of PCA customers with mortgages have one with their PCA provider.

Andrew Bailey, FCA Chief Executive, said: “This is an important piece of work to help us understand the complexities of the retail banking market and how this may develop in the future.

“It provides more evidence that there is no such thing as free banking. In particular, this evidence will inform the work we are doing on overdrafts, so we can fully understand the potential effects of the significant action we are considering taking in this market.”

The FCA’s analysis shows some of the reasons why retail banking markets remain highly concentrated.  Major banks have a captive audience of customers who do not switch and can be cross-sold other products.  Together they have a large share of the PCA market, currently over 80%, giving them considerable competitive advantages.

Yesterday’s update also sets out a number of factors that could lead to significant changes in this overall picture of the market. In the next stage of the Review, we will look at a number of scenarios to assess when and how these changes may have an effect – including changing customer behaviour, regulatory initiatives, technological developments like Open Banking, and changes to banks’ business models such as branch closure programmes.

The FCA has collected information from 45 firms across the range of the market to inform the Review including major banks, small retail banks, building societies, specialist lenders and new digital banks.

See:  Europe’s banks brace for a huge overhaul that throws open the doors to their data

The FCA is asking for responses to this update, including evidence or views, by 7 September 2018. The next stage of the Review will look at a range of possible future scenarios, including what branch closure programmes mean for consumers and banks’ business models, and how technological and regulatory changes may affect the market.

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NCFA Jan 2018 resize - Announcing New FFCON19 Keynote Apr 3:  JON MEDVED, CEO OurCrowd Equity Crowdfunding portal with $1billion in CommitmentsThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org