The AltFi Lending Summit 2023 focused on the following key themes:
- The macro-credit environment is resilient yet consumers and businesses face financial squeezes.
- Artificial intelligence, automation, and digitalization are being used to make better use of data for risk assessment, fraud detection, and client relationships.
- Profitability has become a priority for fintech companies in the current economic environment.
- Strategic partnerships and acquisitions are helping companies expand their capabilities.
- Regulation and rising interest rates present challenges that companies are working to address through technology and new business strategies.
Notes from AltFi Festival of Finance 2022 in LondonKristi Rohtsalu
AltFi Festival of Finance 2022 was a two-day in-person extravaganza exploring innovation in fintech, banking, and lending in the UK and across Europe. About 60 speakers and 300 attendees were present at the prestigious Park Plaza London Riverbank. These are my notes and takeaways from the event.
Here are the keywords:
Trust, ESG,
Cost of living crisis, Post-COVID, Supporting Ukraine & Ukrainian refugees
30+ banking licenses issued in UK over the last few years, huge investment rounds in FinTech
Payments, BNLP & BNLP 2.0, Challenger Credit Cards, Embedded Finance
Open Banking , Open Finance
High Net Worth Neobanking
Crypto & Web3, Metaverse
FinTech advice to the incumbent banks
Hybrid working and remote working
HR, international talent and four-day workweek
Private Banker International - Fintech SupplementLucile Mathe
The ‘IT’ Factor
How are private banks harnessing and monetizing technology?
Article from David Hamilton, CEO of eWise Group, on page 12 - The importance of aggregating, managing and using data for private banks
This is Dr. Toa Charm's presentation from the 15 May 2014 meeting of the Hong Kong Big Data community. Along with Daniel Ng and myself (Scott Drummonds), Dr. Charm presented on big data in Hong Kong to a joint session of HKBD and the Chinese University of Hong Kong MBA consulting club.
Leading the pack in blockchain banking
Trailblazers set the pace.
The IBM Institute for Business Value with the support of the Economist Intelligence Unit surveyed 200 banks in 16 countries on their experience and expectations with blockchains. What differentiates the early adopters and what can we learn from them?
Notes from AltFi Festival of Finance 2022 in LondonKristi Rohtsalu
AltFi Festival of Finance 2022 was a two-day in-person extravaganza exploring innovation in fintech, banking, and lending in the UK and across Europe. About 60 speakers and 300 attendees were present at the prestigious Park Plaza London Riverbank. These are my notes and takeaways from the event.
Here are the keywords:
Trust, ESG,
Cost of living crisis, Post-COVID, Supporting Ukraine & Ukrainian refugees
30+ banking licenses issued in UK over the last few years, huge investment rounds in FinTech
Payments, BNLP & BNLP 2.0, Challenger Credit Cards, Embedded Finance
Open Banking , Open Finance
High Net Worth Neobanking
Crypto & Web3, Metaverse
FinTech advice to the incumbent banks
Hybrid working and remote working
HR, international talent and four-day workweek
Private Banker International - Fintech SupplementLucile Mathe
The ‘IT’ Factor
How are private banks harnessing and monetizing technology?
Article from David Hamilton, CEO of eWise Group, on page 12 - The importance of aggregating, managing and using data for private banks
This is Dr. Toa Charm's presentation from the 15 May 2014 meeting of the Hong Kong Big Data community. Along with Daniel Ng and myself (Scott Drummonds), Dr. Charm presented on big data in Hong Kong to a joint session of HKBD and the Chinese University of Hong Kong MBA consulting club.
Leading the pack in blockchain banking
Trailblazers set the pace.
The IBM Institute for Business Value with the support of the Economist Intelligence Unit surveyed 200 banks in 16 countries on their experience and expectations with blockchains. What differentiates the early adopters and what can we learn from them?
Borrowing money in today’s mortgage environment sucks for both banks and consumers. The costs to originate a mortgage have skyrocketed from $600 in 2003 to nearly $6,000 today. Consumers gained slightly better protection at the cost of crippling regulation that turns a simple mortgage application into a month-long migraine. We’re creating the first mobile app that gets you a home loan by only asking for three things: Name, social, submit. Our software reduces origination costs by 75% and underwriting costs by 50%, while enabling us to earn recurring servicing revenue. We do this in a frictionless process that saves the borrower 90% of their application time. Loanatik’s mission is to make the process of getting a mortgage quick, easy, and smooth while saving the consumer money, time, and future hand cramps from signing so much paperwork.
P2P Lending Business Research by Artivatic.aiArtivatic.ai
Financial Lending or P2P Lending is going to play important role in the economy of entire world including India. Artivatic conducted Lending (P2P) research to understand the sector specific problems, growth and opportunities and also the use of technologies.
#lending #p2p #fintech #banking #insurance #payments #accounts #bfsi #deeptech #artivatic #startups #technology
The banking sector is experiencing a major shift globally, as Challenger Banks are becoming increasingly formidable competitors to traditional banks and have begun to capture significant market share. Furthermore, the lines between banks and other consumer financial services providers are blurring, with several alternative lenders and robo-advisors beginning to offer banking products to their customers. E-commerce / internet giants are also jumping into the fray with Google and Amazon, among others, beginning to offer banking products. In response to the emergence of Challenger Banks, a number of incumbent banks have launched their own FinTech brands, and traditional financial institutions will likely turn to FinTech solution providers in order to defend their turfs. The report features an overview of trends in the Challenger Banking space as well as the broader banking ecosystem, a detailed landscape of Challenger Banks globally, a proprietary list of financing and M&A transactions, as well as exclusive executive interviews.
Thinking like a global financial institution - Account Based MarketingThe Craft Consulting
Thinking like a Financial Institution. For innovative tech providers.
What the main challenges Financial Institutions are facing now and in the future
How digital transformation is affecting Financial Institutions
How regulation is changing Financial Institutions
How innovative tech providers can help Financial Institutions overcome their biggest challenges
Read more at https://thecraft.consulting
Our event on 2 March for SMEs interested in finding out about the creation and protection of IP, cashflow finance and/or broadening access to alternative sources of funding.
It was aimed at digital and technology businesses, and as well as an overview of the opportunities for SMEs in the sector, expert colleagues from Metis Partners (intellectual property specialists), Jumpstart (specialists in R&D tax credits) and the Lending Crowd (insights on crowdfunding). The session was a short, sharp, non-technical guide for businesses to consider some potentially new approaches to practical aspects of successful innovation.
Summary of the 2017 Financial Technology predictions, as published in 2016 with a focus on key investment themes as well as geographic trends. For more information or the full report email info@finchcapital.com
Digital Engineering: Top Three Imperatives for Banks and Financial Services C...Cognizant
Banking and financial services organizations need a blueprint for building modern digital capabilities, reducing technical debt and accelerating cost-cutting via the cloud. Here are some practical strategies for doing that, and examples of organizations achieving success.
Slides from August 2015 webinar on the relevance of Fintech strategy for Broker Dealer firms. Webinar covered why Broker Dealer incumbents need a FinTech Strategy to survive industry disruption and how to create one
Risk Management in Banks - Overview (May 2024)Kristi Rohtsalu
Risk is at the heart of banking – and so is risk management. In a regulated bank, it is crucial to take a holistic view, including economic and normative perspectives. This material gives an overview of enterprise risk management in banks; specifics by risk type – credit risk, market risk, operational risk, liquidity risk, and other relevant risks – are not discussed here.
Borrowing money in today’s mortgage environment sucks for both banks and consumers. The costs to originate a mortgage have skyrocketed from $600 in 2003 to nearly $6,000 today. Consumers gained slightly better protection at the cost of crippling regulation that turns a simple mortgage application into a month-long migraine. We’re creating the first mobile app that gets you a home loan by only asking for three things: Name, social, submit. Our software reduces origination costs by 75% and underwriting costs by 50%, while enabling us to earn recurring servicing revenue. We do this in a frictionless process that saves the borrower 90% of their application time. Loanatik’s mission is to make the process of getting a mortgage quick, easy, and smooth while saving the consumer money, time, and future hand cramps from signing so much paperwork.
P2P Lending Business Research by Artivatic.aiArtivatic.ai
Financial Lending or P2P Lending is going to play important role in the economy of entire world including India. Artivatic conducted Lending (P2P) research to understand the sector specific problems, growth and opportunities and also the use of technologies.
#lending #p2p #fintech #banking #insurance #payments #accounts #bfsi #deeptech #artivatic #startups #technology
The banking sector is experiencing a major shift globally, as Challenger Banks are becoming increasingly formidable competitors to traditional banks and have begun to capture significant market share. Furthermore, the lines between banks and other consumer financial services providers are blurring, with several alternative lenders and robo-advisors beginning to offer banking products to their customers. E-commerce / internet giants are also jumping into the fray with Google and Amazon, among others, beginning to offer banking products. In response to the emergence of Challenger Banks, a number of incumbent banks have launched their own FinTech brands, and traditional financial institutions will likely turn to FinTech solution providers in order to defend their turfs. The report features an overview of trends in the Challenger Banking space as well as the broader banking ecosystem, a detailed landscape of Challenger Banks globally, a proprietary list of financing and M&A transactions, as well as exclusive executive interviews.
Thinking like a global financial institution - Account Based MarketingThe Craft Consulting
Thinking like a Financial Institution. For innovative tech providers.
What the main challenges Financial Institutions are facing now and in the future
How digital transformation is affecting Financial Institutions
How regulation is changing Financial Institutions
How innovative tech providers can help Financial Institutions overcome their biggest challenges
Read more at https://thecraft.consulting
Our event on 2 March for SMEs interested in finding out about the creation and protection of IP, cashflow finance and/or broadening access to alternative sources of funding.
It was aimed at digital and technology businesses, and as well as an overview of the opportunities for SMEs in the sector, expert colleagues from Metis Partners (intellectual property specialists), Jumpstart (specialists in R&D tax credits) and the Lending Crowd (insights on crowdfunding). The session was a short, sharp, non-technical guide for businesses to consider some potentially new approaches to practical aspects of successful innovation.
Summary of the 2017 Financial Technology predictions, as published in 2016 with a focus on key investment themes as well as geographic trends. For more information or the full report email info@finchcapital.com
Digital Engineering: Top Three Imperatives for Banks and Financial Services C...Cognizant
Banking and financial services organizations need a blueprint for building modern digital capabilities, reducing technical debt and accelerating cost-cutting via the cloud. Here are some practical strategies for doing that, and examples of organizations achieving success.
Slides from August 2015 webinar on the relevance of Fintech strategy for Broker Dealer firms. Webinar covered why Broker Dealer incumbents need a FinTech Strategy to survive industry disruption and how to create one
Similar to Notes from AltFi Lending Summit 2023 (20)
Risk Management in Banks - Overview (May 2024)Kristi Rohtsalu
Risk is at the heart of banking – and so is risk management. In a regulated bank, it is crucial to take a holistic view, including economic and normative perspectives. This material gives an overview of enterprise risk management in banks; specifics by risk type – credit risk, market risk, operational risk, liquidity risk, and other relevant risks – are not discussed here.
See on minu Patagoonia reisikirja terviktekst. Sama reisi slaidid leiab siit: https://www.slideshare.net/slideshow/patagoonia-avastamise-retk-veebruarismrtsis-2024/266955843
This travel journal is about my 2023 summer trip to Georgia, the country at the intersection of Europe and Asia.
The one word I would use to describe Georgia is DIVERSE. I still wonder how much variety I did experience while visiting just this one country. It was familiar and unfamiliar. There were mountains and sea and almost desert-like areas. I could see sights from different eras and meet people with different attitudes. Of course, there were common denominators, too – like cows on the roads.
My approach was this: where I can reasonably walk, there I walk – and where I cannot, I use budget-friendly transportation.
Here are some memorable moments:
• Standing hand-in-hand with strangers in the strong current of the ice-cold river originating from the nearby glacier
• Breaking my record of meters climbed during one day
• Marshrutka adventures, including ‘party bus’ and ‘rally bus’
• Feeling like a competitive eater facing the next food challenge
• Getting through hostile bushes – I have never been this scratched before!
• Confronting ‘Georgian gorillas’ in the corridor
• Major water outage: kneeing to get some water from the half-empty fountain in the central square of Mtskheta
• All lights going off in Gori; sirens and people with lamps behind my hotel room’s window
• Bokneti rural experience, including a broken bathroom and getting to know someone who knew about the Estonian start-up community more than me on these days
• Climbing up to the walls of Ananuri Fortress
Yeah. Most memorable moments are often unplanned challenges.
Gruusia on väga mitmekesine maa. Siin on piltides minu 2023. aasta suvetripp sinna - midagi igast päevast.
Leia reisi videoblogi YouTube's siin: https://www.youtube.com/playlist?list=PLk3KJWs0RSoc5CorTcYp1VjR7s19v-wlC
Minu Bali Reisi Päevikud (Veebruar-Märts 2023)Kristi Rohtsalu
Reisipäevikutes oma esimeselt reisilt Jumalate Saareks ja Tuhande Templi Saareks nimetatud Balile jutustan ja illustreerin fotodega päev päeva kaupa, kuidas seda nö paradiisisaart otsast avastasin ja kogesin. Lõpuks teen väikese kokkuvõtte: algne ettekujutus ja tegelikkus. Mitte, et ma Baliga nüüd kuu aja jooksul päriselt tuttavaks sain – ikka esmamulje põhjal ning läbi inimese perspektiivi, kellele meeldib kõndida.
***
Hetki:
[…] Aga ei: turvavööde kinnitamist nõudvad tulukesed olid kustus. Küll aga jätkusid mulle seni tundmatud häiresignaalid ning lennuki laes istete kohal sähvisid kõrvuti punased ja rohelised valgused. […]
[…] Vasakut ja paremat kätt jäi nüüd paras väike džungel ning… umbes kümme meetrit minust eespool läks rahulikult üle tee ligi meetri pikkune ja korraliku käsivarre jämedune krokodilli-laadne elukas. […]
[…] Pandi maha, näidati, millisest uksest sisse minna… Ja sõidutamise eest mingit tasu ei küsitudki! Kui tänamiseks ümber pöörasis, oli mees rolleriga juba kadunud – oli lihtsalt mulle teene teinud. […]
[…] Tumepunastes religioossetes riietes meesterahvad istusid ’laval’ ja ’esinesid’. Vähemasti ma arvasin, et see oli lava ja et nad esinesid. Kuidas ma eksisin! […]
[…] Jällegi ‘kleepis’ ennast minu kõrvale üks suhteliselt tüütu rolleriga meeskodanik. Seletas, et tahab mind aidata: viib Sampalani ära. Vastasin, et Sampalani on jäänud alla viie kilomeetri ja ma TAHAN ise kõndida. […]
[…] Ronisin kusagile üles ja astusin lukustamata klaasuksest sisse. Tundus, nagu olnuksin sattunud mingi parajasti asustamata luksusliku ruumi või sviidi rõdule; pimedas ei saanud täpselt aru. Seal leidus võrkkiik, milles tükk aega varbaid sirutasin. Õhtu oli soe, ent mitte palav. Lihtsalt mõnus oli niimoodi olla ja mitte midagi teha. […]
[…] Olin selleks ajaks juba piisavalt palju turninud ja ekselnud; otsustasin, et nüüd küll on aeg ots ümber pöörata ning tuldud teed mööda tagasi minna. Nii lihtne see küll ei olnud! Need rajakesed ajasid kohutavalt segadusse. […]
[…] Meil vedas: nägime lausa kahte suurt kilpkonna päris lähedalt. Nägime kohe nii lähedalt, et kellelgi meie pundist õnnestus ühte neist kogemata riivata. […]
[…] „Mis siin toimub?“ imestasin hiljem õhtul kolmveerand kuue paiku oma villa lähedal asuvasse Kedungu Beach’i nimelisse randa jalutades.
Rannaeelne parkimisala oli tihedalt täis rollereid, inimesi, igasugu söögi- ja joogiputkasid… […]
[…] Turnisin väheke mööda templi serva ehitatud treppi ja… Uugh, seal sebis ringi korralik trobikond suuri musti skorpione! […]
Lenders find themselves in a challenging new post-pandemic economic environment, battling both rising rates and soaring inflation. While consumer lending faces headwinds, there is still growth and innovation. Keywords from the AltFi lending Summit 2022 were revenue-based lending, green finance and buy now pay later for business, but also new lending innovations.
Innovating through the slowdown. 3 November 2022, London – In-Person. These are my notes from the event.
Rännates Alpides ja vahemerelises Euroopas suvel 2022Kristi Rohtsalu
Auring Mont Blanc’ile (omal moel), suvised suusakuurortid peamiselt Prantsuse Alpides, pikad ja kuumad päevad teel rannaväravasse, vein ja viinamarjad vahemerelisel Lõuna-Prantsusmaal, Costa Brava, Barcelona ning puhkamine puhkusest Mallorca saarel... Sellesse umbes 1,500 kilomeetri pikkusse ning paarikümmet tuhandet tõusumeetrit sisaldavasse ligi kolme kuu pikkusse suvereisi mahtus üht-koma-teist.
Kummalised lauakombed ja mõistatuslik laud ühele; torm Alpides; üle aia ronimised ja keelumärkidest üleastumised; sekeldused Intermarché turvameestega; mustad pullid; rallivõistluse boksipeatusse eksimine; puslepildi vaated; Déjà vu; mind kangesti aidata soovinud prantsuse proua; Kõigi Kadunud Asjade Maale pagev hotelli uksekaart; kogemata minu kaamera ette jäänud UFO/UAP; pilliroopadrikust välja karanud aadamaülikonnas hipi; kohalikud ratturid peatamas mind alla hüppamise katsel (ja ei, ma ei kavatsenud sooritada enesetappu 😉); rõõm väikestest asjadest; mäed, higistamine, rannad...
Tegin ka jooksvat videoblogi: https://www.youtube.com/playlist?list=PLk3KJWs0RSoewLNoNM5SNRKHPd-wXXZz2
On 11 February 2022 I packed my stuff, passed mandatory COVID procedures – COVID testing, electronic forms, Lufthansa document check – and checked in to my flight. Outside, the temperature was 1°C; it was wet and slippery. New COVID cases in Estonia were skyrocketing. I was heading to Gran Canaria, the place that I had picked for my next winter office.
[…]
After the sleepless night I spent most of the flying time sleeping. At my arrival to Estonia, the spring was just about to begin. It was March 20th. There sky was cloudless. I had never had such a clear view to my home country…
***
This is my diary about the life in between: Winter Office in Gran Canaria, February-March2022.
“I am always here to help you” host in La Aldea de San Nicolás…
Explosion of the egg…
Mystical disappearance of the motorcyclists near Andén Verde…
The story of broken lock in Maspalomas…
Touching Roque Nublo…
“Pilgrimage” to Teror…
“Can I ask you a personal question? Aren’t you afraid?”
The most beautiful sunset I have ever seen…
They got a wild ride. I found my adventures and restored my inner balance…
Tallataksoga Lõuna-Saksamaa, otsaga Austrias – reisipäevikuid suvest 2021 Kristi Rohtsalu
Mõned märksõnad minu suvistest rännakutest Lõuna-Saksamaal ning otsapidi Austrias:
Odenwald ja Schwarzwald e Must Mets; Konstanz’i järv e Bodensee; Baieri Alpid; Romantiline Tänav.
60+ päeva teel; 1,390 kilomeetrit astumist.
Maalilised varahommikud, kuldsed viljapõllud, mägised vaated ja panoraamid; katkematu lehmakellade kolin (või helin) ja sagedased kirikukellade löögid.
Krimpslikud ploomid, maisitõlvikud ja viinamarjad.
Matkarajad ja puhkeonnid; ’lebotoolid’ ja porimülkad.
Muinasjutumetsad ja -majad; keskaegsete kindluste varemed ja uhked lossid; tipud ja kuristikud.
Palavad päevad ja kuumalaine hoiatus; pidev vihm, üleujutuste ja maalihete hoiatus; äike, mis hoiab öö välgusähvatustest valgena.
Rõõmsad kokkusattumised. Sekeldused hotelliarvetega.
Teele asumised ja kohalejõudmised – ning aeg seal vahepeal.
Nüüd on see tehtud. Minu suvereis 2021 on tehtud. Oma reisipäevikus räägin kõigest põhjalikult, päev päeva kaupa.
Baltic coastal hiking 2020 from Tallinn to RigaKristi Rohtsalu
The summer came different this year (2020). I had to change my original travel plans, take a backpack and get going (walking) from the doorstep of my home, literally so... That's the story of my walk from the capital of Estonia to the capital of Latvia.
My notes from the event that discussed the trend of FinTechs moving into the public markets
The event page: https://www.altfi.com/events/altfi-fintech-investor-forum
Via Francigena on antiikne tee ja oluline keskaegne paleverännaku teekond Canterbury’st Rooma. Teekond algab Inglismaalt ning kulgeb läbi Prantsusmaa, Šveitsi ja Itaalia. Tänase raja pikkuseks, kui kõik käänakud ja jõnksud kaasa teha, on ligi 2,000 kilomeetrit. Teed võib läbida nii ühte kui teist pidi, kas tervenisti (keskmiselt 70-90 päeva kõndimist) või osade kaupa. Seda käiakse erinevatel põhjustel: kellele on see sport, kellele kultuur, kellele usk, kellele spirituaalne rännak. Peatuskohti jäävad märkima templid nn palveränduri passis.
Rohkem infot raja kohta Via Francigena kodulehelt: http://www.viefrancigene.org/en/
Jagasin rännaku enda jaoks umbes pooleks: Canterbury’st Aosta’ni (põhiliselt Prantsusmaa ja Šveitsi osad) ning Aosta’st Rooma (Itaalia osa). Mulle on rännak esiteks ja ennekõike lihtsalt puhkuse veetmise viis.
Käesolevas kirjatükis on matkapäevikud rännaku teisest poolest, just nii nagu need iga päeva õhtupoolikul pärast kõndimist kirja pandud said.
Teekonna esimese osa kohta saab lugeda siit:
https://www.slideshare.net/KristiRohtsalu/minu-via-francigena-tee-i-osa-suvi-2017
Matkapäevikute juurde kuuluva pildimaterjali leiab nt SlideShare’st (inglise keeles):
https://www.slideshare.net/KristiRohtsalu/my-walk-on-via-francigena-part-2-marapr-2018
Vastavad lühivideod on olemas ka YouTube's:
https://www.youtube.com/playlist?list=PLk3KJWs0RSocuLFB17X5sGQTNt8RrnF3d
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...mayaclinic18
Whatsapp (+971581248768) Buy Abortion Pills In Dubai/ Qatar/Kuwait/Doha/Abu Dhabi/Alain/RAK City/Satwa/Al Ain/Abortion Pills For Sale In Qatar, Doha. Abu az Zuluf. Abu Thaylah. Ad Dawhah al Jadidah. Al Arish, Al Bida ash Sharqiyah, Al Ghanim, Al Ghuwariyah, Qatari, Abu Dhabi, Dubai.. WHATSAPP +971)581248768 Abortion Pills / Cytotec Tablets Available in Dubai, Sharjah, Abudhabi, Ajman, Alain, Fujeira, Ras Al Khaima, Umm Al Quwain., UAE, buy cytotec in Dubai– Where I can buy abortion pills in Dubai,+971582071918where I can buy abortion pills in Abudhabi +971)581248768 , where I can buy abortion pills in Sharjah,+97158207191 8where I can buy abortion pills in Ajman, +971)581248768 where I can buy abortion pills in Umm al Quwain +971)581248768 , where I can buy abortion pills in Fujairah +971)581248768 , where I can buy abortion pills in Ras al Khaimah +971)581248768 , where I can buy abortion pills in Alain+971)581248768 , where I can buy abortion pills in UAE +971)581248768 we are providing cytotec 200mg abortion pill in dubai, uae.Medication abortion offers an alternative to Surgical Abortion for women in the early weeks of pregnancy. Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
PPrreesseenntteedd bbyy:: GGrroouupp 66
GGlloobbaalliizzaattiioonn
o f
PP
oo
ll
yy
ee
ss
tt
ee
rr
RR
uu
bb
bb
ee
rr
EE
tt
hh
yy
ll
ee
nn
ee
VV
ii
nn
yy
ll
AA
cc
ee
tt
aa
tt
ee
GG
ee
nn
uu
ii
nn
ee
LL
ee
aa
tt
hh
ee
rr
SS
yy
nn
tt
hh
ee
tt
ii
cc
LL
ee
aa
tt
hh
ee
rr
CC
oo
tt
tt
oo
nn
C
o
u
n
t
r
i
e
s
I
n
v
o
l
v
e
d
Ni
k
e
h
a
s
m
o
r
e
t
h
a
n
7
0
0
s
h
o
p
s
i
n
c
o
n
t
r
a
c
t
w
i
t
h
w
o
r
l
d
w
i
d
e,
w
h
e
r
e
i
n
t
h
e
i
r
offi
c
e
s
a
n
d
i
n
d
e
p
e
n
d
e
n
t
fa
c
t
o
r
y
o
u
t
l
e
t
s
a
r
e
fo
u
n
d
w
i
t
h
i
n
t
h
e
p
r
e
m
i
s
e
s
of
ap
p
r
o
x
i
m
a
t
e
l
y
4
5
c
o
u
n
t
r
i
e
s.
AAuussttrraalliiaa
China
India
IInnddoonneessiiaa
TThhaaiillaanndd
TTuurrkkeeyy
USA
VViieettnnaamm
NNiikkee SSuuppppllyy CChhaaiinn
RRuubbbbeerr,, FFaabbrriicc
aanndd ootthheerr rraaww
mmaatteerriiaallss
Shoe
MMaannuuffaaccttuurriinngg
aanndd AAsssseemmbbllyy
MMaarrkkeettiinngg
SSppoorrttiinngg ggooooddss,,
ddeevveellooppmmeenntt
aanndd SShhooee ssttoorreess
OOnnlliinnee,, CCaattaalloogg
aanndd ootthheerr rreettaaiill
NNiikkee bbrraannddeedd
shoes
PPrroodduucctt
ddeevveellooppmmeenntt
CCuussttoommeerr nneeeeddss//wwaannttss ffeeeeddbbaacckk
NNiikk
Nike Supply Chain
Globalization of Nike
Nike Manufacturing Process
Rubber Materials Nike
Ethylene Vinyl Acetate Nike
Genuine Leather Nike
Synthetic Leather Nike
Cotton in Nike Apparel
Nike Shops Worldwide
Nike Manufacturing Countries
Cold Cement Assembly Nike
3D Printing Nike Shoes
Nike Product Development
Nike Marketing Strategies
Nike Customer Feedback
Nike Distribution Centers
Automation in Nike Manufacturing
Nike Consumer Direct Acceleration
Nike Logistics and Transport
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Analyzing the instability of equilibrium in thr harrod domar model
Notes from AltFi Lending Summit 2023
1. 1
AltFi Lending Summit 2023
18 October 2023, London
Notes by: Kristi Rohtsalu
Summary
Themes of the AltFi Lending Summit 2023 were following:
• Macro-credit environment: resilient, yet consumers and businesses are being squeezed
• Artificial intelligence, automation and digitalization:
o Data is the key: getting open banking data flowing more freely
o Using technology to make sense of data quickly, including for regulatory purposes
o Using AI1
to fight against the new types of fraud such as deepfakes
o Generative AI to support client relationship managers
• Profitability as the new-found status for FinTech companies
• Good examples of strategic partnerships and acquisitions:
o Starling Bank and Fleet Mortgages
o OakNorth and ASK
• Regulation: Consumer Duty
• Embedded finance opportunity
• Commercial lending in digital age:
o Different segments, different approaches
o Consumer paradigms shifting to the business world
• Property lending in the rising interest rate environment
1
List of abbreviations can be found from appendices, section 13.1.
2. 2
Contents
1 Risk And Resilience In A Challenging Economy.....................................................................................3
2 The Evolution Of Alternative Lending: AI, Automation And Opportunities Ahead ..............................4
3 How Lenders Can Simplify Their Onboarding With AI - Fireside Chat Fireside Chat with Admiral
Money and Fintern........................................................................................................................................5
4 The AltFi Interview With… Damian Thompson, Chief Asset Management Officer, Starling Bank........5
5 The Cutting Edge Of Embedded Lending ..............................................................................................7
6 Understanding Consumer Duty And CCA Reforms: Constraining Or Catalysing Consumer Lending?..8
7 The Secrets Of A Successful Partnership: OakNorth Bank And ASK Partners.....................................10
8 Profitability In A High Interest Rate Environment ..............................................................................11
9 Digitalise Or Die: Why Tech And Data Should Be On Top Of Lenders' Agenda ..................................12
10 Commercial Lending In The Digital Age: Adapting To Changing Customer Expectations And
Preferences.................................................................................................................................................13
11 Managing Rising Rates: Strategies For Property Lending In A Challenging Market .......................15
12 Poll Results......................................................................................................................................16
13 Appendices......................................................................................................................................18
13.1 Abbreviations..............................................................................................................................18
13.2 Disclosure....................................................................................................................................18
3. 3
1 Risk And Resilience In A Challenging Economy
Headline Sponsor, Experian
Rob Haslingden, UK Head of Propositions @Experian
John Griffiths, Market Engagement Director, Credit and Risk, Business Information @Experian
Economy
• Retail spending continues to grow:
o Volume is down
o Value of items is up
• Drop in business sentiment
• Labor market cools:
o Unemployment rate is low, but set to rise
• Consumer confidence rises:
o Consumers have remained resilient to inflation
o Wage growth in the UK is at record high; big differences between the sectors
o Consumers think that the worst is over
• The chock of mortgage rates continues to roll out
Macro-credit trends: consumer
• Consumers are searching more for credits
• Arrears are slowly ticking up, yet consumers seem to be coping OK
• Card applications are holding up
• Credit card balances are slowly increasing
• BNPL has remained strong during the summer; average spend: £143
Macro-credit trends: commercial
• Business credit searches are on rise, but new lending is subdued
• Average cash balances are starting to drop
• Delinquencies have been rising steadily, but not very much
• Monthly default rates are increasing
• New company failure rates: there is big uptick for companies that were started in April-June 2020;
companies started during the COVID crisis behaving differently
• New business lending & outlook:
o New lending demand: +32%
o Growth in asset finance & asset value: +33%
o Loyalty of customers: 40% of debt from elsewhere
o Blind spots: 2.2% of ‘good’ debt is bad elsewhere
o Pockets of opportunity
In summary: Household and business credit is squeezed.
4. 4
2 The Evolution Of Alternative Lending: AI, Automation And
Opportunities Ahead
Niels Turfboer, Managing Director of the UK and Netherlands @TP24
Richard Prime, Co-CEO and Founder @Sonovate
Lara Gilman, Co-lead @IwocaPay
Moderated by: Daniel Lanyon, Editorial Director @AltFi
In our first panel session of the day we'll ask what the future holds for the alternative lending landscape.
We'll dive into the emerging opportunities, disruptive innovations, and potential pitfalls ahead, plus
question whether innovative lending models can continue to adapt and compete.
Companies in the panel
TP24: Started in 2016. In 4 countries. Lending to SMEs. Larger asset-based loans.
IwocaPay: Started in 2012. Provides instant working capital. Operates in UK and in Germany. More
recently, secured a new line of funding.
Sonovate: Working capital provider. Operates in UK and in US. Has lent 4.5 bn.
Uses of AI technology
Niels / TP24: We are testing the algorithms. Using technology for operational workflows. Testing AI for
risk management, but in the segment of larger asset-based loans it’s more complicated. Aim: fully
automate loans up to £5 million.
Lara / IwocaPay: For us, automation is core from day one. How can we use the data efficiently – and use
the right data? We do not automate everything, but only where we can automate confidently. We are
aiming to blend the best of humans and machines.
Richard / Sonovate: We see automation as fundamental, a necessity for scaling. Data is core foundation.
Are customers demanding automation and AI?
Niels / TP24: Customers do not care what we do technology-wise. They care about the service.
Keys to success:
• Having the data structure.
• Encouraging people to share their data; more accessible, more reliable and relevant data.
• LLMs getting more out of the data. Niels: “You already see it in medicine!”
5. 5
3 How Lenders Can Simplify Their Onboarding With AI - Fireside Chat
Fireside Chat with Admiral Money and Fintern
IDVerse Public Breakout
Highlights:
• Simplifying customer onboarding with AI: using AI / deep learning to verify the documents and
people’s faces.
• Need to fight with new types of fraud, such as deepfakes2
.
• AI enables improving understanding where extra checks are needed.
• Regulation is in progress: digital ID framework, giving principles.
• Observation: Neobanks are becoming comfortable while big banks are creating innovation teams.
4 The AltFi Interview With… Damian Thompson, Chief Asset
Management Officer, Starling Bank
Damian Thompson, Chief Asset Management Officer @Starling Bank
Interviewer: Oliver Smith, Managing Editor and Head of Content @ AltFi
From the news: From July 2023, Starling Bank has a new (interim) CEO.
On 30 June 2023, the co-founder of Starling, Anne Boden, stepped down as the bank’s CEO. John Mountain
took the role as interim CEO.
“Now that we have grown from being an aspiring challenger to an established bank, it is clear the roles
and priorities of a CEO and a large shareholder ultimately differ and require distinct approaches. As
Starling continues to evolve and grow, separating my two roles is in the bank’s best interests,” said Anne
Boden via the Starling’s press release in 25 May 2023.3
“[…] However, Boden’s decision followed a clash with investors over fund manager Jupiter’s decision in
February to sell its holding in the bank at a price that cut Starling’s valuation from £2.5bn to between £1bn
and £1.5bn, according to people familiar with the situation,” writes Financial Times.4
The interview
Q: What is Anne Boden’s role in Starling now?
A: Anne is on the Board. She is very present on the strategy.
2
Deepfakes involve the use of algorithms and machine learning to manipulate or replace elements of a photo, a
video and/or audio.
3
[WWW] https://www.starlingbank.com/news/starling-bank-reports-six-fold-increase-in-profits/ (Last accessed on
19 October 2023.)
4
Emma Dunkley and Siddharth Venkataramakrishnan (19 June 2023). ”Anne Boden stepped down as Starling CEO
after investor clash”. Financial Times.
[WWW] https://www.ft.com/content/bd88678d-68f4-4c17-83dc-d56803a48ca7 (Last accessed on 19 October
2023.)
6. 6
Q: Tell us about Starling’s loan book.
A: At the start, Starling had no asset strategy. Everything was about customer proposition. That created
deposit growth. Now, there has been a strategy shift. Starling had to get to profitability – and where is the
best opportunity? On the loan market. Entering loan market requires building the capacity: risk
management etc.
Starling made strategic portfolio acquisitions (including Fleet Mortgages, specialist buy-to-let mortgage
lender, in June 20215
). Key things are getting right yields and building capabilities for the future.
Starling’s advantage: it started with a low C/I. For reaching profitability, Starling does not need that high
Loan-to-Deposit ratio as incumbent banks do.
Mortgages are very difficult to resist if you look at risk-adjusted returns. At the same time, it’s difficult to
go to the low-risk segment where HSBC’s cost of capital is close to zero.
Mortgage loans played a big part of Starling’s profitability last year – and will play in this year as well.
“We do residential mortgages – we do not have any commercial real estate.”
Q: How is your mortgage portfolio performing?
A: The effect of interest rate reset is coming through. Starling is more exposed to single point interest
reset as compared to the others who have built their portfolios over time and see mortgage interest rates
resetting more gradually. “But nothing to worry about,” Mr Thompson adds.
Q: Currently, Fleet is a subsidiary brand under which Starling’s mortgage loans are issued. Are there any
plans to start issuing those loans under Starling brand?
A: Fleet has a great reputation on the market. Starling brand and bank license help in building confidence
on the background, but Fleet’s brand remains. Doing Starling’s own mortgages is not in sight right now.
Definitely, the question comes up in the strategic plans.
Q: Culturally, Fleet is very different from the rest of Starling. What are your thoughts on integrating those
two cultures?
A: Starling is a regulated bank. Fleet is an alternative lender. Starling is a tech business, fleet is not. Fleet
is very good in what it does – we have left them to their own universe.
Q: Getting to Net Zero6
– what’s your plan for Starling?
A: Starling started with sustainability being built in. We have got a very low ratio. There is no paper; there
are built-in principles.
Q: What is Starling’s appetite towards providing forward flow in real estate development finance.
A: None. Real estate development finance is a different story.
An anonymous from the audience asked: “What do you make of the Metro Bank’s recent ‘wobbles’? Is it
an opportunity for Starling”
Reference was made to the recent bit of news about Metro Bank seeking bids to sell £3bn of mortgage
loans from its books, this with the aim to repair its balance sheet without undue delay.7
5
[WWW] https://www.starlingbank.com/news/starling-bank-acquires-mortgage-lender-fleet-mortgages/ (Last
accessed on 19 October 2023.)
6
Net Zero refers to the balance between the amount of greenhouse gas that's produced and the amount that's
removed from the atmosphere.
7
Mark Kleinman (15 October 2023). ”Metro Bank seeks bids within weeks for £3bn mortgage book”. Sky News.
7. 7
The question was politely ignored this time, yet Metro Bank’s issue came up later on, anyway.
5 The Cutting Edge Of Embedded Lending
Miriam Wohlfarth, Co-CEO @Banxware
Brendan Regan, Head of Europe @Plaid
Nick Harding, CEO and Co-founder @Fluro
Jakob Pethick, Chief Commercial Officer @YouLend
Moderated by: Amelia Isaacs, Senior Reporter @AltFi
This panel discussion will probe into how embedded lending is transforming customer experiences with
personalised financing solutions. Is the era of one-size-fits-all lending over, how is technology enabling this
new age of lending and are traditional lending models prepared for this kind of disruption?
Q: What is embedded finance?
A: Integration of financial services into non-financial products and services, such as e-commerce
platforms, mobile apps, or other businesses, allowing customers to access financial functions seamlessly
within the context of their existing activities.
Q: What is going on in the consumer side?
Nick: Embedded finance continues to grow. The time is clearly extremely challenging. We are monitoring
trends like mortgage interest rates being reset.
Q: What are the trends in B2B embedded lending?
Jakob: There are more challenges on the loss rates side. On the other side, we are also seeing
opportunities. In B2B, challenges are different than in the consumer space. The opportunity is much
bigger.
Miriam: For the customers of the platforms, it’s all about personalisation, building the right product:
localize, adapt the user flow, be very transparent. Backend offer is very different, especially in Europe.
People are very much on their privacy thing.
Q: What are the key factors for the embedded finance technology innovation?
A: These are numerous:
• Emergence of a lot of software companies that make the embedded finance possible.
• Open banking that made the rails possible. Open banking is 5-6 years old, embedded finance is 3 years
old. Open banking is the key enabler. With that, you immediately increased the addressable market.
It is the real-time nature of banking data that enables instant availability of loans.
• VPR – Variable Recurring Payments – is nascent. We are heading to a different era: reduced fraud etc.
Q: What role does personalization have to play?
Miriam: One size fits none. Amazon in a way set a gold standard for consumers. You really like this blend.
Companies that build the right product are those who succeed.
Brendan: Customization that is reflective to customer profile. Being able to interact with the customer as
soon as the situation changes (e.g.: income increases, or, on the contrary, customer is in trouble).
[WWW] https://news.sky.com/story/metro-bank-seeks-bids-within-weeks-for-3bn-mortgage-book-12984988 (Last
accessed on 19 October 2023.)
8. 8
Nick: The key question is this: how can we get more open banking data flowing?
The two stages in embedded finance development:
1) Embedded financing built into the product, and
2) Personalisation of check-out experience.
Q: Other than e-commerce and online marketplaces, where have you seen interest towards embedded
finance?
• Insurance companies have shown interest
• Interest from software companies
• Interest from payment businesses like PayPal
• Interest from businesses like Airbnb and Booking.com
Q: What is the biggest block to embedded lending?
A: It’s the customer who does not expect a loan outside a bank. Younger people see that already, they
realize: convenience is the king.
6 Understanding Consumer Duty And CCA Reforms: Constraining Or
Catalysing Consumer Lending?
Lucas Dalglish, Chief Commercial Officer @Jaja Finance
Nikki Worden, Partner and Head of Financial Institutions Group, UK @Osborne Clarke
Carol Hamilton, Chief Product Officer @Provenir
Rosie Normanton, Head of Strategic Partnerships @The Money And Mental Health Policy Institute
Moderated by: Daniel Lanyon, Editorial Director @AltFi
As new regulations reshape the landscape, what is the real impact on consumer lending? This session will
tackle the crucial debate on whether these changes are creating stumbling blocks and adding red tape, or
unleashing potential. Can the industry turn regulatory shifts into strategic opportunities? We’ll challenge
perspectives and explore the transformative potential of these reforms.
Background information
Consumer Duty is a standard introduced by the Financial Conduct Authority (FCA), intended to improve
consumer protection for financial-services firms in the UK. The changes were announced in 2021 and
officially came into force on 31 July 2023.8
More information can be found on the FCA website: https://www.fca.org.uk/publications/policy-
statements/ps22-9-new-consumer-duty
The interview
Q: Consumer Duty in the UK came to force this July. What has changed?
8
Source: Wikipedia, https://en.wikipedia.org/wiki/Consumer_Duty (Last accessed on 19 October 2023.)
9. 9
Lucas: We have to make sure that we have the right customer focus. For Jaja, it was a smaller project. We
need to be very clear now: what those metrics are?
Nikki: It’s a step-up. Biggest change is this: everything has to be demonstrated. Data is the key. There are
lots of controversies about the partners of the financial service providers. Consumer Duty means investing
into compliance. There is more coming in the future. Part of the compliance piece is fair value assessment.
The most obvious issue on the market is overpricing. How can the firms justify that their prices correspond
to the fair value?
Carol: There are lots of discussions about the data and extracting meaningful information very quickly.
That’s where AI comes to play. Regulation is very ambitious, creating confusion: how are customers
benefitting from that?
Rosie: It’s too early to measure the consumer benefits. We saw increased demand for our work: what is
the experience for the customers with mental health problems?
Q: How is the Consumer Duty going to interact with innovation? What are the risks in the outcome focused
regulation?
Lucas: For us, the regulation provides competitive advantage. A lot of the new competition is getting
blocked. For people coming into the space now, these are new challenges. We have been part in building
the regulation, we have built it collectively; new entrants have to figure it all out on their own.
Nikki: There are both, positives and negatives. The most successful FinTechs just have to demonstrate
what they have done. For newcomers, lawyers are expensive. Getting to the market is more difficult. On
the other hand, small can be nimble – for example, when it comes to solving the problems of people with
mental health problems.
Lucas: Name an example of the struggles that people with mental health problems can have.
Rosie: For example, making phone calls is a big struggle for some.
Q: Let’s now focus on consumer credit and BNPL regulation.
Rosie: There are two key issues: a) BNPL is very important to be regulated, and b) customers accessing
credit in digital way is having its own risks.
Nikki: The problem with the consumer credit regulation is that you have to pick a category. BNPL is low
risk by product conditions. What is risky, is how people are using it.
Carol: Regulation could be accelerated in several places. Technology often leads the way; technology
forms the regulation. Consumer expectations have changed and, more importantly, consumer behaviors
have changed. Technology pushes that. Regulation ‘catching up’ is not the right term – technology forming
regulation via shaping consumer expectations and behaviors is how it’s ought to be.
Q: Consumer Duty wants firms to show that they are testing outcomes. What are the best ways for firms
to do that?
A: Step 1: Identify vulnerable customers. Step 2: Simulate, test, find the right strategy for them. Note that
vulnerability can be temporary. Collect and use functional feedback: what customers are upset about?
Tracking a section of customers through your entire value chain is really what gets you beneath the skin.
Q: What happens with the Consumer Duty when loan portfolios are bought and sold?
A: It’s a new part of Due Diligence.
10. 10
7 The Secrets Of A Successful Partnership: OakNorth Bank And ASK
Partners
Ben Barbanel, Head of Debt Finance @OakNorth Bank
Doug King, Co-founder @Ask Partners
Moderated by: Oliver Smith, Managing Editor and Head of Content @AltFi
Since 2018 OakNorth Bank and ASK Partners have had a successful working relationship, co-lending
millions of pounds across dozens of property developments, before the two lenders agreed a deal in
October 2022 for OakNorth to acquire a 50 per cent stake in ASK. What are the secrets of this successful
partnership, how have the duo managed to collaborate rather than compete, and what are the outcomes
from effectively working together?
OakNorth Bank, founded in 2015, is specialist in structured lending solutions to growth businesses. The
company has 300+ employees.9
Doug, on ASK:
ASK was set up in 2017. The idea was this: create a diverse funding place rather than people getting
funding from one source. We have family offices, HNWI-s etc. as customers. The team has grown from 3
to 20.
Q: When did the partnership began?
Ben: First transactions took place in 2018. Now there are no transactions as such – it’s all one smooth
flow.
Doug: OakNorth bought 50% equity stake in ASK after we had done business together for four years.
Ben: As a regulated bank, we have retail deposits. We also have ASK’s cash behind us.
Q: Why 50% acquisition and not 100%?
Ben: We decided to build the partnership together rather than take over.
Doug: There are synergies for both.
Q: How has the deal worked?
Doug: We have massively grown our loan books. Previously, ASK originated transactions. Now originations
are more on the OakNorth’s side. Co-operation started on management level. Now, it’s more on team
level.
Ben: ASK for us is reliable, diverse source of capital.
Q: What does the future hold for both? Is 100% ownership still a theme?
Ben (on 100% ownership): There is nothing defined.
Doug: We are going to grow together. That’s how we have structured the deal. We are trying to optimize
the talent.
Both: M&A in 3-5-7-10 years time… Let’s see where the most of the equity value is.
Q: Culturally, is ASK stand-alone?
9
Sources: Wikipedia, https://en.wikipedia.org/wiki/OakNorth_Bank (Last accessed on 20 October 2023.); AltFi,
https://www.altfi.com/companies/oaknorth
11. 11
Doug: Yes, 100%. From our lending perspective, we are 100% off-balance sheet.
Q: What advice would you give to other companies who are looking for the same kind of deals?
Ben: Communication. Open dialogue.
Doug: I agree. The key is talking to each other, respecting one another.
Q: Any challenges from working together?
Doug: There have not been any actual roadblocks. OakNorth is in the heavily regulated (banking) industry,
yet it is incredibly quick and nimble. Learning from working in the regulated industry has taken us to the
next level.
Q: Any operational challenges?
A: There has been a well-defined process. Probably… When we got together in a small room with the
management team and did some blue-sky thinking. Then the tech group came and said: no way.
Q: Question to ASK: how do you want to grow your business?
Doug: Two important things:
a) Brand that is respected by borrowers, investors and shareholders, and
b) Where our people work, is it a happy place? Culture aspect is incredibly important.
Q: Another question to ASK: Do you have control over your lending criteria?
Doug: Yes. What we do not control, is the lending process.
8 Profitability In A High Interest Rate Environment
Brian Bartaby, CEO and Founder @Proplend
Maximilian Eber, Co-founder and Chief Product Technology Officer @Taktile
Hugh Courtney, Chief Financial Officer @Zilch
Moderated by: Daniel Lanyon, Editorial Director @AltFi
As the financial world grapples with rising interest rates, how can lenders maintain profitability? This panel
will question existing models and explore our understanding of profitability. We’ll ask whether innovative
strategies can ensure sustainability and even prosperity in such a climate.
Profitability is a new-found status for FinTech companies.
Hugh: Zilch has been profitable for the last months. We assumed, we have to build a model that works in
all markets and in all market conditions. For us, it was about utility: what the customer wanted and where
the customer wanted it? It was also about scaling: how do we actually scale? Zilch has a highly engaged
customer base, customers getting more valuable over time. Acquiring customers has become cheaper:
better channels, more repeat customers.
Brian: Proplend became profitable in 2021. We managed it through efficiency. Technology has played a
massive role in that. The loans do not sit in our balance sheet. We are a very small nimble team.
12. 12
Maximilian: We help risk teams to build and launch their decision-making process. Three elements to
profitability:
a) We help customers to connect all data sources
b) Merging these data sources together
c) Pricing
We always try to focus on credit approval process. Cross-selling, pre-approving offers, etc.
Q: What about lowering costs?
Hugh: Absolutely! Accessing venture capital is no longer a certain journey. We did a lot of consolidation
on our cost base, clarified the focus. We have to focus on innovation.
Q: Let’s say, interest rates stay flat. How stable is your business model?
Hugh / Zilch: We are turning our book around very frequently. That gives us a lot of flexibility. The other
part is this: we can make money out of customer relationships.
Brian / Proplend: There is always benefit to have both, retail and institutional money. We have built a
loyal set of clients. We treat investor money as our own money.
Q: Let’s make some predictions. Let’s assumes, interest rates go up. Who is exposed?
Maximilian: Underwriting will be much-much more important. Funding is more expensive, margins are
tighter.
Hugh: Recent bank failures… Result of poor management. I feel quite bullish about the FinTech sector.
Q: What FinTech business models, do you think, are fundamentally flawed when it comes to profitability
in low interest rate environment?
A:
• Businesses that rely on VCs.
• Right now, neobanks are benefitting from low deposit rates. But what if the rates raise?
Q: Brian, has Proplend compromised lending quality in order to increase volumes?
Brian: No. Whatever happens with the interest rates, our margins remain the same.
9 Digitalise Or Die: Why Tech And Data Should Be On Top Of Lenders'
Agenda
Kennek Public Workshop
Alan Margolis, Director @Greymax Capital
Georges Assi, CEO @Naviter Capital
James Davis, Co-Founder @Rocking Horse
Xavier De Pauw, Founder @Kennek
Kennek is a loan management system that is ‘more than just a loan management system’. It offers a
complete lending toolkit, with no coding required.10
10
From the company’s website: https://kennek.io/platform (Last accessed on 20 October 2023.)
13. 13
The following slide summarises the key message of this coffee-break session (which one may or may not
agree with): lenders should focus on the tip of the Lending ‘Iceberg’, that is originations and underwriting;
everything else – loan monitoring, risk management, portfolio analytics, arrears management, funding &
investor reporting, loan servicing – should be left to the solution providers such as Kennek.
The slide that summarizes the key message from the panellists
For example, as highlighted by Georges, investors are missing standardised reporting:
“It’s not that the companies do not want to give you the data – they simply do not have that data readily
available.”
There was a question from the audience on how far such standardization would go: would it also mean
standardized risk models, taking IFRS 9 expected credit loss models as an example? James thought that
this level of standardisation was unlikely to happen any time soon. No one else commented.
10 Commercial Lending In The Digital Age: Adapting To Changing
Customer Expectations And Preferences
Conrad Ford, Chief Product Officer @Allica Bank
John Griffiths, Market Engagement Director, Credit and Risk, Business Information @Experian
Eliott Saba, Partner @Bootstrap Europe
Moderated by: Amelia Isaacs, Senior Reporter @AltFi
14. 14
With a shift towards digitisation and evolving customer expectations, how is commercial lending adapting
and thriving? Can we reimagine commercial lending to meet customer preferences in the digital age? This
session will question traditional practices and explore innovative digital solutions.
Q: Commercial lending in digital age – where do you see it heading?
Conrad / Allica Bank: We have those two segments: micro business segment and established SMEs; the
answer is different for the two. In micro business segment we see some adoption of the new tools like
open banking, but not so much as we expected. In this segment, the only successful product is micro
business credit card. SME segment… You cannot fully digitalize it. Generative AI is ideally suited to that
part of the market, to support the work of relationship managers.
Elliott / Bootstap Europe: Commercial lending is broad. Full automation… We lend to B2B SaaS companies
which are easy to underwrite. The others require expert knowledge.
John / Experian: We are trying to push the market: how can we widen the market to the micro business
segment? Consumer paradigms are shifting to the business world, but not everything. Most of consumer
credit is automated; all agenda is around digitalisation.
Q: Where do you see the problems on the market?
Conrad: The problem is in the middle where the loans are too big to automate, yet too small to underwrite
manually. That’s where the opportunity is.
Elliott: Customers want the answer asap: do they get the loan and what are the terms? CEOs, they still
want that human element. VC-s focus on loss making businesses. There are lots of M&A opportunities out
there.
Q: Conrad, tell us more about Allica’s lending today?
Conrad: Allica is full-service FinTech bank in the SME segment. From lending perspective, we entered the
market in phases. Today, 2/3 of our loan book is secured by property: factories etc. The second product
is machinery – trucks, focus on working capital. We have grown very-very quickly.
Q: What about profitability?
Conrad: We have been profitable for over a year by now. It’s very good time to be a bank in Europe.
Elliott: It’s a good time to deploy new capital, and (disagreeing with Conrad) it’s very profitable to be a
lender in the current interest rate environment. Profitability is the name of the game right now.
Q: What do you make of the Metro Bank’s issue around its mortgage book?
Elliott (?): It’s a long-time problem with capital calculation. The fundamental question is this: is there room
for branch-based banking? I believe, for some segments there is room – not for the branches like big banks
have, but for a focused challenger.
15. 15
11 Managing Rising Rates: Strategies For Property Lending In A
Challenging Market
Uma Rajah, CEO and Co-founder @CapitalRise
Richard Dana, CEO and Co-founder @Tembo
Richard Rowntree, Managing Director Mortgages @Paragon Bank
Moderated by: Oliver Smith, Managing Editor and Head of Content @AltFi
The property lending market is being tested with rising interest rates. This panel will delve into the
challenge, and ask whether property lenders can navigate these rough waters and still prosper?
The companies in the panel
Paragon Bank is UK specialist bank. The bank’s lending products include mortgages for landlords and loans
for business customers, including SMEs and experienced property developers.
CapitalRise is specialised property lender, focusing on developers.
Tembo is a tech-focused mortgage broker that is helping families to organize family mortgages.
The interview
Q: How rising interest rates have affected you?
Uma / CapitalRise: We are focusing on developers in Central London. Central London has its own property
cycle. It has been incredibly resilient. Rising interest rates have had an impact – but some other factors
have the opposite effect.
Richard R. / Paragon Bank: Demand from tenants is up, supply is down. Amateurs are struggling.
Specialists – our focus group – are primarily interest only. We are seeing very little stress from the
historical loan book.
Richard D. / Tembo: There is a continued shift to purchasing as compared to renting. Developers are trying
to hold their prices.
Q: Uma, you reported very high growth last year. What about this year?
Uma: We are very optimistic. Our pipeline is very-very strong. As alternative lender, we have several
advantages.
Q: Tembo, how have your priorities changed?
Richard D.: Initially, we focused on first time home buyers. Now we are helping both homebuyers and re-
mortgagors.
Q: Paragon, what is driving the growth in your mortgage lending?
Richard R.: Regulation: Net Zero. There is much to do.
Q: What are the biggest risks for property lenders right now?
16. 16
Uma: Increasing financing costs; developer completing the project; ultimate end price of the property,
given rising construction costs. We are making sure that we have healthy buffers.
Richard D.: Valuation. No one knows what that is going to be. Recession next year, which may come.
Richard R.: Affordability is still a concern.
12 Poll Results
There were three polls running during the day:
1. How seriously should lenders be taking generative artificial intelligence?
2. What is your outlook on the 2024 lending environment?
3. What are your Bank Rate expectations for 2024?
The results are depicted on the graphs below.
2%
37%
61%
0% 10% 20% 30% 40% 50% 60% 70%
Ignore for now
Cautiously investigating
Full steam ahead
How seriously should lenders be taking generative AI?
17. 17
14%
34%
52%
0% 10% 20% 30% 40% 50% 60%
Pessimistic
Neutral
Opptimistic
What is your outlook on the 2024 lending
environment?
4%
17%
79%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Rising above 6%
Below 5%
Flat at 5%
What are your Bank Rate expectations for 2024?
18. 18
13 Appendices
13.1 Abbreviations
A – Answer
B2B – Business-to-Business
BNPL – Buy Now Pay Later
CCA – Consumer Credit Act in the UK
CEO – Chief Executive Officer
C/I – Cost/Income ratio
FCA – Financial Conduct Authority (a financial regulatory body in the UK)
HNWI –High-Net-Worth Individual
M&A – Mergers and Acquisitions
LLM – Large Language Model
Q – Question
SaaS – Software as a service
SMEs – Small- and Medium-sized Entities
VC – Venture Capital, also refers to the Venture Capital firms
VPR – Variable Recurring Payments
13.2 Disclosure
This paper includes my current notes from the event, finetuned within the following few days. Quotes are
not precise, hence no quotation marks. I did my best to capture what was said; all mistakes are mine.
Event page on AltFi website: https://www.altfi.com/events/altfi-lending-summit-2023