01 Dec

Financial services of the future will be open sourced and real-time

Chris Skinner closed Latin America’s top ‘fintech’ meeting with a prognosis: The financial services of the future will be open source and real-time or will not be at all.

“Many (banking) executives haven’t quite realized how crucial digital is to their institutions and talk about an evolution, when, in reality, what we are facing is a revolution,” warned Chris Skinner, one of fintech’s leading global experts, during the last day of [email protected] 2017.

But the warning went far beyond that. With figures in hand, Skinner stated that only 6% of the members of a board of directors (in banking) have sound technological understanding and that four out of every five institutions only have one person with that knowledge. Financial institutions need teams that think digital, he added. “A board of directors does not have to be completely technology-savvy. Board diversity is the best way to understand the world in which we live.”

For Skinner, the digital transformation that is sweeping through the banking industry —and other sectors— will affect the whole world and is not restricted to specific groups. By way of example, he mentioned some countries in Africa where one in three people are already using basic mobile phone —not ‘smartphones’— to make transfers.

The fintech expert’s conference took place during the last day of Miami’s [email protected] 2017 event.

Read more at: https://thefinanser.com/2017/11/financial-services-future-will-open-sourced-real-time.html/

19 Nov

[Vietnam-specific] Các chỉ số KPI cho doanh nghiệp


  1. KPI cho Trưởng Phòng Kinh doanh
Lĩnh vực Mô tả Thước đo Chỉ số/tháng
Xây dựng  hệ thống kinh doanh Thiết lập đại lý và nhà phân phối Đại lý  
Ổn định hệ thống kinh doanh Đảm bảo doanh số / tháng Cuốn  
Báo cáo số liệu Các số liệu về kinh doanh,  kho, tiêu thụ Lần  
Kiểm soát công nợ Báo cáo số liệu tiêu thụ Lần  
Thu hồi công nợ Báo cáo lượng công nợ thu hồi Lần  
Brain storm Đóng góp ý kiến để phát triển hệ thống kinh doanh & sản phẩm Số lần  
Đánh giá nhân viên Bảng đánh giá nhân viên mỗi tháng Lần  
Hoàn thành báo cáo Số lần không hoàn thành hoặc hoàn thành chậm các báo cáo cần thiết. Lần  
Nội qui của công ty Vi phạm nội qui Lần  
Tham gia các buổi họp, sinh hoạt chung của công ty, các buổi huấn luyện Vắng mặt, đi trễ trừ trường hợp có lý do chính đáng  hoặc buổi họp nằm ngoài vị trí công việc Lần  
  1. KPI cho Sales Admin
Lĩnh vực Mô tả Thước đo Chỉ số/tháng
Lưu trữ số liệu Lưu trữ đầy đủ tất cả các số liệu có liên quan đến công tác kinh doanh file  
Tập hợp và phân tích Tập hợp các số liệu hàng tuần: lượng kinh doanh, số liệu đại lý, KH trung thành, cấp bổ sung, biếu tặng, lượng tiêu thụ file  
Bán hàng qua điện thoại Liên lạc với các khách hàng cũ & tiềm năng Lần  
Quản lý và chăm sóc khách hàng Liên lạc qua điện thoại với các khách hàng, đại lý & giải đáp các vấn đề có liên quan trong phạm vi trách nhiệm Lần  
Phối hợp quản lý và thu hồi công nợ Đối chiếu số liệu kinh doanh, tiêu thụ của từng đại lý. Đưa kết quả công nợ mỗi tháng Lần  
Hoàn thành báo cáo Số lần không hoàn thành hoặc hoàn thành chậm các báo cáo cần thiết. Lần  
Nội qui của công ty Vi phạm nội qui Lần  
  1. KPI cho Sales Executive
Lĩnh vực Mô tả Thước đo Chỉ số/tháng
Thiết lập đại lý Tìm kiếm và phát triển đại lý Đại lý  
Đảm bảo doanh số Đảm bảo doanh số Cuốn  
Thu hồi báo tồn Thu hồi và nhập kho báo tồn từ các đại lý Cuốn  
Quản lý thông tin khách hàng Nắm rõ các thông tin khách hàng, cách thức giao nhận Đại lý  
Thu hồi công nợ Kiểm soát, nhắc nhở và thu hồi công nợ Lần  
Tham gia các buổi họp, sinh hoạt chung của công ty, các buổi huấn luyện Vắng mặt, đi trễ trừ trường hợp có lý do chính đáng  hoặc buổi họp ngoài vị trí công việc Lần  
Hoàn thành báo cáo Số lần không hoàn thành hoặc hoàn thành chậm các báo cáo cần thiết. Lần  
Nội qui của công ty Vi phạm nội qui Lần  
  1. KPI cho Sales Support
Lĩnh vực Mô tả Thước đo Chỉ số/tháng
Thu tiền bạn đọc Thu chính xác tiền và nhanh trong ngày Lần  
Cung cấp báo đến các đại  lý theo yêu cầu của Trường Phòng Kinh doanh Cung cấp báo cho các đại lý Đại lý  
Thu hồi báo tồn Thu hồi và nhập kho báo tồn từ các đại lý Cuốn  
Quản lý thông tin khách hàng Nắm rõ các thông tin khách hàng, cách thức giao nhận Đại lý  
Thu hồi công nợ Kiểm soát, nhắc nhở và thug  hồi công nợ Lần  


12 Nov

What are some things that every entrepreneur should know, but that nobody teaches, when starting their first business?

This is the dark side of things you have to know. Starting a business for the first time is not for the weak-hearted. The fact of the matter is, lot of darkness is behind every startup story, people hate to share or talk about it. Here is a list of some must-know dark topics:

  • Expect no one to support you and everyone to ridicule and demotivate you. If you get any support, be thankful for it. People are stuck in the job mentality.
  • There is no prestige in it. Heck, even when your daily income is more than the whole cabinet of minister’s salaries combined, they will still think of a minister as someone better than you. Heck, a low-level section manager has more prestige than you. Never get sucked into showing off your wealth for respect, it’s futile.
  • Everything that will go wrong will go wrong. Have a plan B as good as plan A.
  • Never share your failures with anyone. There, I told you, the crowd is dying to hear it. Share only your success because it will also reflect on your future investor’s opinion about you.
  • You have a 50/50 chance of failure, no matter how good your plans are. So be prepared to fail, for success, no other preparation is required.
  • Never take a debt it will slow you down, try again if you failed.
  • Never ask friends and family for investment or loan. You will probably lose it, and they will distract you from doing your thing. Don’t burn bridges.
  • Try to do your first business in secret until you succeed. Because people don’t trust a person who fails a lot. Neither the investors whom you may need in the future.
  • Do something you enjoy because everyone is motivating you and this is the only way to stay motivated.
  • Be kind to your employees but don’t try to be their friend, they will use you. Besides, when they screw up, you will need to fire them swiftly.
  • Make time for your family, friends, social life and hobbies, otherwise you will exhaust yourself. Remember that you are the cornerstone of your business and it will fall when you do.
  • Be really careful to your customers because bad reviews cannot be deleted from the internet.
  • Everyone wants a piece of your new income, from your mom to your friends, even after they ridiculed you. Do not help anyone. Remember airplane’s emergency instructions, help yourself, then help others. Don’t help anyone on account of your business. Learn to say NO.
  • Again everyone wants a piece of you, from your staff to your suppliers, to your customers, even the government. Protect yourself from disclaimers to contracts.
  • Never cheat your way into anything, sooner or later it will bite you in the ass. Your enemies and competitors will use it against you. Be as ethical and legal as a proper person should be.

You better learn now, than learn it the hard way.

12 Nov

What is the best advice for a young, first-time startup CEO?

Welcome to the world of business, may your journey embark fruitfully.

You have to keep an open mind to this as it may sound counter intuitive but it actually works. So be patient and be attentive to details and read between the lines.

Are you really mentally ready for this?

Here are my fool proof 27 points for a startup.

  1. Do not take loans.
  2. It’s an emotional roller coaster so be ready and enjoy it do not give up. You will lose a lot of hair but hey, bald is in fashion.
  3. Do not take loans.
  4. Make the 20% of product features that are responsible for 80% of your value first. With your own god damn money.
  5. Do not take loans.
  6. The remaining 80% of features of your products, add them later organically one by one.
  7. Do not take loans.
  8. Talk to people and ask their opinions on stuff you know nothing, Jon Snow.
  9. Do not take loans.
  10. Build a distribution network and channel partners. More sustainable than just advertisement and it is an asset to add to your company value. They are kind of your subscribers the more you have, the surer how much you will earn, and you can plan your scaling around it.
  11. Do not take loans.
  12. When you need investors don’t ask for money for your salary, it’s a waste of money. Ask for features and growing distribution network.
  13. Do not take loans.
  14. Keep innovating and don’t bother with cat fights with your copycats. It’s a waste of time.
  15. Do not take loans.
  16. If you are a technical guy step down from being CEO and get someone who knows how to run a business to do it for you. It also will make the investors trust you more. Don’t fight the CEO over authority, only vision.
  17. Do not take loans.
  18. Investors want to see a team that knows its shit. Not your buddies.
  19. Do not take loans.
  20. When you want investors to get professional help to evaluate your startup and to tell you how much shares to offer. Residuals 1% for my 1 billion idea is a waste of the investors. Do not waste time on investors, they talk just like your ex gossiping about how small your wee wee is.
  21. Do not take loans.
  22. Focus on your business process and do not change it every day, it frustrates your employees and customers and your distributor and channel partners. When you want to change split a operate line with new offering and gradually change. If it works, don’t fix it.
  23. Do not take loans.
  24. Make your business unique, no one wants to invest in another clone.
  25. Do not take loans.
  26. Don’t try to fight multi-billion dollar companies. Investors will think you are an idiot. Instead, fill the gap these companies don’t cover, and they might actually buy you. They are potentially investors too.
  27. Did I mention do not take loans? DO NOT TAKE LOANS.
07 Nov

Fintech & Banking News 7th November, 2017

Market Intel

Australia’s fintech industry grows Based on survey results from 166 fintech companies –it was found that the nation’s ecosystem has boomed over the past 12 months, seeing rapid growth with firms revelling in a 208% (or 3.1 times) annual median revenue jump. Read More

Paytm takes on messaging apps with chat feature Indian mobile wallet giant Paytm has added a chat feature to its app as it seeks to defend its ground against messaging outfits, such as Whatsapp, entering the payments space. Initially only available on Android, Inbox lets users send each other audio, video, pictures and text, as well as money. Read More

Digital, connected, client-centric: a new model for corporate bankingCorporates have made massive leaps in digitally transforming their services and it is ringing change within the corporate banking ecosystem. A new research paper explores the need for a new ecosystem. Read More

Three of Australia’s largest banks partner to create payment platform BeemThree of Australia’s largest banks, The Commonwealth Bank (CBA), National Australia Bank (NAB) and Westpac have partnered to create Beem –a new mobile peer-to-peer (P2P) payments platform. Read More

Mobile apps replace bank branches for UK millennials More than half of millennial Brits now regularly use their mobile phones to keep on top of their financial affairs, according to a Visa survey.Of more than 2000 Brits quizzed, 38% carry out banking via an app on a regular basis, with this rising to 53% for 18 to 34 year olds. Read More

20+ banks and R3 plan DLT-based cross-border payment platform Blockchain consortium R3 and 22 of its member banks have collaborated on the development of a cross-border payments platform built using distributed ledger technology (DLT). Read More

German mobile challenger bank N26 expands to UKGerman-based mobile challenger bank N26 will enter the UK market in the first half of 2018. According to N26, the UK is “one of the most advanced markets”in Europe in terms of digital payment methods. It says “non-cash payments and e-commerce are the accepted norm”. Read More

Visa rolls out real-time payments platform in EuropeVisa is to bring its real-time payments platform to market in Europe after experiencing strong growth in other key markets globally. Visa Direct enables P2P, B2C, and B2B payments with funds transfers to recipient accounts taking place within minutes. Read More

Client/Prospect Intel

Cashplus licence = new UK challenger bank London-based financial services provider Cashplus is making the bold move into the challenger bank ring by unveiling its next move: applying for a banking licence. Cashplus says it has positioned itself to become the “now generation”bank, with its “instant”online decisions, “anytime”banking services and lending products. Read More

Orange Bank launches in FranceOrange is launching its new banking offer in mainland France today. This 100% mobile-based offer is provided by Orange Bank and will be the only French bank to offer for free a service that provides real-time balances, mobile payment, innovative uses and a virtual adviser that is available 24-hours a day, 7-days a week. Read More

Al Rajhi Bank Launches Exclusive Payment Services Solution in Collaboration With Accenture – The new Hub is aimed at maintaining Al Rajhi Bank’s leadership in the payments market in Saudi Arabia, providing a unique payment solution for all the bank’s payment products & services. Read More

Westpac to work with iconic design gurus for wearable payments play Westpac is to work with top lifestyle designers to create a range of wearable tap and go payment attachments that can be fitted to consumer accessories. With Westpac’s PayWear range, customers will be able to tap and pay in the same way they regularly do with their debit card. Read More

Lloyds, Halifax and Bank of Scotland hit by system outagesThe customers of Lloyds, Halifax and Bank of Scotland have been affected by an online and mobile banking glitch that is preventing access to accounts or telling users they don’t have an account with the bank. Read More

Mizuho to test wallet app for smartphones – Mizuho Financial Group, Inc. and Mizuho Bank, Ltd. have begun proof-of-concept testing of pring*, a wallet app for smartphones. They jointly developed pring, and this proof-of-concept testing process will examine pring’s ability to perform a variety of transactions using electronic money drawn from the user’s bank account.  Read More

YES Bank fined $1 million over massive ATM breach The Reserve Bank of India has hit YES bank with a $1 million fine for failing to promptly report a breach of its ATM network. Hitachi Payment Systems in February admitted culpability for the YES Bank breach that spawned a massive recall of debit cards by the nation’s banks. Read More

Competition Intel

Lloyds Bank Invests In Payments Platform Technology From FinastraLloyds Bank announced the implementation of its payments platform, powered by Finastra. Finastra has a long history of working with Lloyds Bank, with the organization already benefitting from its corporate banking, payments and capital markets technology. Read More

Dime Community Bank signs with Fiserv –  Fiserv,announced that Dime Community Bank, a $6.44 billion asset financial institution based in Brooklyn, New York, will accelerate its transformation to a robust community commercial bank model by moving to a modern, real-time core banking platform and integrated suite of digital banking solutions from Fiserv. Read More

Bar Harbor Bank converts to Jack Henry SilverLake Jack Henry Banking division announced that Bar Harbor Bank & Trust has implemented the SilverLake System for its robust processing power and mastered flexibility. Bar Harbor was running a competitive platform in-house and was simultaneously facing an imminent investment to its IT infrastructure. Read More

Nine NZ credit unions shift to Oracle Flexcube for core bankiing – Aotearoa Credit Union was the first of the nine to go live on Flexcube in August, after 18 months of planning and implementation. NZCU Baywide is the second of nine New Zealand credit unions to shift to Oracle’s core banking offering, Flexcube. Read More

Central Securities Clearing System (CSCS) Plc plans deployment of TCS BaNCS – The CSCS Plc plans to increase automation and efficiency of the Nigerian capital market with the deployment of TCS BaNCS, a multi-asset class solution for securities depository, clearing and settlement. The new solution replaced the NASDAQ Equator. Read More

Regions Bank completes wealthtech modernisation project with SEI (underpinned by the TCS ) US-based Regions Bank has gone live with the SEI Wealth Platform, following an 18-month transition of its private wealth, asset management and institutional services businesses to the new platform. SEI Wealth Platform is underpinned by the TCS Bancs solution. Read More

07 Nov

DBS launches world’s largest API developer platform

DBS Bank launch a banking API developer platform that it believes is the largest by a bank anywhere in the world.

The API platform makes a wide array of APIs available for other brands, corporates, fintechs, and software developers to plug into and has the potential to significantly accelerate the bank’s digital ambition and customer impact.

With 155 APIs at launch for Singapore across more than 20 categories such as funds transfers, rewards, PayLah! and real-time payments, the platform will offer the world’s largest number of and most relevant banking APIs for companies, whatever their focus, from fintech to lifestyle.

More than 50 companies including household names such as AIG, McDonald’s, MSIG, PropertyGuru, as well as start-ups like Activpass, FoodPanda, Homage, and soCash have already hopped onto the platform to develop solutions that will bring more convenience and value to their customers.

04 Nov

What is the story of the Pets.com failure?

Pets.com began operating in August 1998. Full details of how much was raised is sketchy, but there was a US$10.5m round in March 1999 from, amongst others, Amazon.com. This was soon followed by another round of US$100m.

In February 2000, just before the dot com crash, it raised a further US$82.5m by IPO giving it a post-money valuation of US$290m.

The sock puppet became Pet.com’s much-marketed mascot.

But the sock’s fame didn’t last long.

9 months after the IPO Pets.com was shut down.

So what went wrong?

It spent way too much money, particularly on advertising including an ad at the 2000 Super Bowl, and was losing money on limited sales. From February to September 1999 alone it spent $12m on advertising but revenue was only $600k, and things got ramped up from there.

It was reckless spending – thinking too big before getting the basics right. Barking obvious, really.

In March 2000 the dot com bubble burst and then it couldn’t raise any more cash.

This new dog couldn’t learn old tricks…

by Asim Qureshi, CEO LaunchPad

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