Fintech News from Ireland and around the World

Fintech Ireland Pie Chart: Breakdown of Fintech in Ireland

15/4/2018

Here you will find our most recent graphic based on the Fintech Ireland Map. For a PDF version of the above, click here. Thanks to Dave Anderson for all his efforts here. It makes my work much easier doing further deep dives and promoting Irish Fintech locally and overseas.

Survey/Census: An important part of our continuing work to map the fintech ecosystem in Ireland is our recently launched Survey/Census. To complete the Survey/Census, click here. If you are on the Map, please help us understand more about your business model. If you are Irish Fintech, but not yet on the Map, completing the Survey/Census is the easiest way for us to advance additions to the Map.

To hear more news about the work of Fintech Ireland and upcoming events, join our mailing list.

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New Chairman of Kyckr, former Tesco Bank CEO, Benny Higgins Australian Interview

13/4/2018

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[NB: there is a 5 second pause at the start of the video which we cannot fix.]

This is the full interview of new CEO, Benny Higgins of Kyckr - Irish born, Australian listed - regtech firm.

Prior to joining as Chairman of Kyckr, Benny Higgins was the CEO of Tesco Bank.

It is great to see a former Bank CEO take up the Chairmanship of a regtech company.

In a wide ranging interview Benny discusses Kyckr's regtech business model and value proposition, how it sources data from primary sources and its process of refreshing the data, executing a supermarket values business model into a financial services banking business, the move of tech companies into financial services, recent international data privacy issues, regulators paying increasing attention to prudential and conduct of business regulations and more.

I quite like his comment at around 8m 10secs when Benny, discussing that you need to earn trust and that it is not bestowed on you, says "You can't talk your way out of issues or problems, you can only behave your way out". Other comments in the interview which are interesting are -

"If an organisation wants to treat customers better than they are being treated, there is an opportunity to do so".
"I sometimes hear bankers talk about 'well our customer satisfaction is good or our customer complaints are low' - these are no refuge if your conduct isn't right".

Those quotes will go into the training repertoire for boards of directors!

Note: Peter Oakes, founder of Fintech Ireland, is on the advisory committee of Kyckr. He has purchased shares in Kyckr at arms length at market price on the ASX. [disclosure and all that!]

Thanks to Scott Heyes, banker and fintech enthusiast in Australia, for letting us know of the video.

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Discussion paper on virtual currencies and blockchain technology

22/3/2018

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Download Discussion Paper

Discussion paper on virtual currencies and blockchain technology.
Working Group to monitor cryptocurrency developments established within Department of Finance

The Irish Government, Minister for Finance and Public Expenditure & Reform, Paschal Donohoe T.D, published discussion paper on virtual currencies and blockchain technology, and announced the creation of an internal working group to monitor further developments.

The discussion paper comprises an overview of virtual currencies and the blockchain technology supporting them; summarises actions taken by selected countries around the world; and sets out the key risks and opportunities these technologies present.

The discussion paper concludes with a recommendation to establish an internal working group to coordinate the Department’s engagement in this area, both locally and abroad.

A copy of the Department of Finance's Press release of 22 March 2018 is here.
A copy of the Central Bank of Ireland's Initial Coin Offering Alert of December 2017 is here

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Fintech Ireland Map - Version 1.5 released & Fintech Ireland Survey

16/3/2018

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MAP and SURVEY

16 March 2018 - The current version of the Fintech Ireland Map is V1.5, released 16 March 2018. The Map was created by Dave Anderson of Fintech Ireland. The Map has developed into Ireland's default fintech ecosystem map and is seen in the hands of government officials, embassies, trade associations, professional bodies, recruiters and consultants in Ireland and around the world. We have spotted the map in third party presentations and social media in Australia, Africa, UK, USA Copenhagen and Ireland! Some of places where the Fintech Ireland Map has been spotted appear in our gallery below. We'll add more as we spot them. If you see the Map being used, take a snap and email us the picture please.

We are pleased to announce our Fintech Ireland Survey coinciding with the launch of our latest Fintech Ireland Map (Version 1.5).

The Survey (cum Census) is being performed to take the pulse and report back on the Irish fintech ecosystem. It's a continuation of our work to get to know the indigenous environment. The current Survey is aimed at fintech companies founded in Ireland - both in the Republic of Ireland and Northern Ireland. With a few tweaks, we can expand the survey to capture international fintech companies which have made the Island of Ireland their home. We ask you to encourage Irish fintech companies to complete Survey for the benefit of the Irish fintech ecosystem.

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Crowdfunding: European Commission proposal for a regulation on European crowdfunding services providers

8/3/2018

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Following our earlier post on the European Commission's Fintech Action Plan, here is the proposal for a regulation on crowdfunding, adopted by the European Commission on 8th March 2018. The proposal for a regulation on crowdfunding will enable crowdfunding platforms to easily provide their services across the EU.

Platforms will have to comply with only one set of rules, both when operating in their home market and in other EU countries. For investors, the proposal will provide legal certainty as regards the applicable protection rules.

The proposal and associated documents are below:

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Fintech Ireland Pie Chart: Breakdown of Fintech in Ireland

New Chairman of Kyckr, former Tesco Bank CEO, Benny Higgins Australian Interview

Discussion paper on virtual currencies and blockchain technology

Fintech Ireland Map - Version 1.5 released & Fintech Ireland Survey

Crowdfunding: European Commission proposal for a regulation on European crowdfunding services providers

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