Call Centre Operations Performance Improvement
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The solution empowers call center operations by improving client interactions in real time through the implementation of leading-edge tech capabilities.
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This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Chile has a population of 18m people as of end-2017 and mobile internet users account for 72% as of January 2018 according to Wearesocial. Chile’s government is spurring innovation through investments in startups and loosening restrictions for larger companies looking to penetrate the Latin American market.
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- Chilean FinTechs are driving financial inclusion and SME finance
- Chile’s regulators have recently moved to increase regulatory clarity for FinTechs.
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- 40% of Chilean FinTechs have a focus on the underbanked and unbanked population. Financial inclusion in Chile have been improving with 63% of the population above 15 years old having access to a bank account.
- FinTech Association of Chile, the industry association, was launched in March 2018 with the purpose of promoting and strengthening the 4 pillars for the proper development of the Fintech industry, namely Public policies and regulation; Education, development and attraction of talent; Attraction of capital and investments; and Promoting the use of Fintech business services. as of October 29, the association had 21 members.
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Toronto FinTech Landscape
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This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Key findings:
- As a FinTech hub, Toronto benefits from the abundant talent pool in financial services as well as technology.
- Major Canadian banks have connected with FinTechs through opening their API or through strategic investment.
- Toronto is the second largest financial center in North America after New York and eighth largest in the world. Major Canadian banks are headquartered in Toronto. Meanwhile, the Canadian tech startup scene is vibrant with famous SaaS companies such as Freshbooks, HootSuite and Shopify which are showcasing growth and emerging as next billion dollar companies. The availability of financial as well as tech talent, added together with the regulator’s initiative to grow the ecosystem, are helping the development of FinTech in Canada.
- As of May 2018, there are more than 140 fintech startups located in the Toronto region.
Canadian banks have taken various initiatives to connect with FinTechs. In March 2018, the Royal Bank of Canada launched its Application Programming Interface (API) developer portal.
- The RBC Developers portal will allow eligible, external software developers, industry innovators and clients to access select RBC APIs.
In June 2018, TD Bank bought Toronto-based artificial intelligence startup Layer 6, with the aim to transform itself in the industry shift from mobile-first to AI-first customer experiences.
- The Financial Innovation & Technology Association of Canada (FINACAN) was established with an objective to develop, support and promote FinTech ecosystem in Canada. It has 23 global alliance and 4,500 connections comprising FinTechs, investors and service firms.
- In February 2015, MaRS Discovery District (MaRS) launched the MaRS Financial Technology Cluster (MaRS FinTech) to provide a centralized hub to drive FinTech collaboration and innovation both domestically and internationally. MaRS FinTech is parked under MaRS’ Finance & Commerce sector and led by a FinTech director.
- Financial regulators in Canada, Ontario and Toronto have launched several dedicated initiatives to support FinTechs. In October 2016, the Ontario Securities Commission (OSC), which administers and enforces securities law in the province of Ontario, introduced the OSC Launchpad to provide regulatory guidance to new FinTech businesses.
-The initiative is staffed with representatives of regulator’s branches, including the Compliance & Registrant Regulation, Corporate Finance, Derivatives, Investment Funds & Structured Products, Market Regulation and Strategy & Operations.
Sweden FinTech Landscape
This document describes the Sweden FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Nigeria FinTech Landscape
This document describes the Nigeria FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Nigeria presents vast opportunity for FinTech as 37% of the population is unbanked but the population is young (it is estimated that 62% of the population is under the age of 25), and well-connected (internet penetration is 50.2% and mobile penetration is 84%). The regulator, the Central Bank of Nigeria, has established a regulatory sandbox for FinTech and is continuously exploring how to keep up with innovation in the space.
Key Findings:
- The regulator is exploring ways to regulate FinTech in order to keep up with innovation in the space.
- The government has multiple initiatives to support and encourage innovation for job creation.
- Digital payments, mobile lending and personal finance are currently the most popular areas where FinTechs are operating in.
- Some Nigerian fintechs are gaining worldwide attention of investors. Lagos-based payment company Paystack in August 2018 raised $80 million from Visa, Tencent, Stripe and Y Combinator. As of August 2018, Paystack had more than 17,000 live merchants (which includes Dominos, MTN, Taxify, and Lagos Internal Revenue Service). In July 2018, CowryWise, which helps Nigerians save and invest in government bonds, was selected to take part in the Silicon Valley-based Y Combinator accelerator.
- Banks in Nigeria are also leveraging FinTech to improve customer experience. One of Nigeria's biggest banks, FirstBank, launched the FirstBank Digital Lab in July 2018, at the “Yabacon Valley,” Yaba, Lagos mainland. The lab is designed to serve as a platform for FirstBank to collaborate and advance with the rapidly evolving FinTech.
- International investors are taking notice of the potential of Nigerian FinTech. For example, in August 2018, a UK government delegation, led by the UK prime minister, visited Nigeria to meet with entrepreneurs and forge connections with the African FinTech community.
- The group included representatives from the Financial Conduct Authority, the London Stock Exchange Group and the Prime Minister’s Ambassador for FinTech as well as representatives from big financial service players.
SMEs in Nigeria can receive funding from dedicated funds or take out loans at friendlier rates.
- The Bank of Industry (BOI) provides funding to small business by offering customer friendly rates through the youth entrepreneurship support fund and the national youth service fund, with a focus on technology companies.
Mexico FinTech Landscape
This document describes the Mexico FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Mexico’s FinTech ecosystem has been expanding, particularly the Enterprise Technologies for Financial Institutions and Trading and Capital Markets segments. Mexico presents a considerable opportunity for FinTech to further financial inclusion as bank account ownership of those aged above 15 years is only 35% in 2017, in contrast with high levels of digital penetration - more than 60% of Mexicans possess access to the internet in 2017 and smartphones account for almost 90% of internet connections.
Key Findings:
- As of August 2018, Mexico hosts 334 Fintech startups. The major areas of operations of FinTechs in Mexico are Lending, Payments and Remittances, Enterprise Financial Management, Personal Financial Management, Crowdfunding and Enterprise Technologies for Financial Institutions.
- Enterprise Technologies for Financial Institutions and Trading and Capital Markets segment are the fastest growing sub-sectors at 130% and 100% y-o-y growth respectively. FinTech Mexico, the country’s FinTech association, offers a collaboration space for companies with the aim to improve financial services for all.
- Comisión Nacional Bancaria y de Valores (CNBV) supervises and regulates all financial institutions including banks, non-bank finance companies, stockbrokerage houses and mutual fund companies, among others.
- In 2010, it launched a three-prong strategy to promote financial inclusion:
1. New products: low transactional and mobile accounts;
2. Increasing availability of channels: introduction of banking agents;
3. Innovative risk-based regulation: mobile payment regulation
- On March 10, 2018, the Law regulating Financial Technology Institutions ("FinTech Law") became effective. The law creates a regulatory framework applicable to persons who, through IT platforms or tools, facilitate the execution of financial transactions and services, whether through FinTech institutions ("FTI"), entities authorized to operate through regulatory sandbox models, or any authorized Mexican financial entities ("Financial Entities").
- Mexican FinTechs have attracted investment from local and global investors alike. Most well-known deals include the US$89 million round raised by the lending platform Konfio, led by Vostok Emerging Finance; the US$7 million raised by Curu, led by QED Investors; or the US$6 million round raised by ePesos, led by Santander Innoventures.
Banks have set up funds to invest in FinTech. For example, Santander launched the $100 million fund Innoventures in July 2014 to get closer to the wave of disruptive innovation in the FinTech space.
Dubai FinTech Landscape
This document describes the Dubai FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Dubai, the second largest emirate in the United Arab Emirates (UAE), with total population of ~2.7m of which 80% are expats. UAE has internet user penetration at 99%, social media penetration at 99% and unique mobile user penetration at 77% as per the We Are Social 2018 report, reflecting the country’s potential for digital banking services.
Dubai is taking initiatives in boosting application of blockchain. In 2017, Dubai announced its plan to become the world’s first Blockchain-powered government by 2020 and launched the Dubai Blockchain strategy, a collaboration between the Smart Dubai office and the Dubai Future Foundation, aimed at saving AED5.5bn annually in document processing.
Key Findings:
- The Dubai International Financial Center (DIFC), Dubai’s financial district, has 2,003 active registered companies operating, with a combined workforce of 22,768 people.
In January 2017, DFIC established FinTech Hive, an accelerator that aims to bring financial and technology firms together. During the first six months of 2018, 50% of start-ups from the FinTech Hive programme have set up in DIFC. These start-ups have raised a total funding of US$10million.
- Banks are leveraging technology in their services. The Commercial Bank of Dubai (CBD) launched its first personal finance management platform in October 2015. In the remittance and payments space, Emirates NBD launched P2P payments to its customers via MePAY in 2014, while RakBank launched ATM card-less cash withdrawals in 2014. CBD launched in April 2017 CBD Now, Dubai’s first digital only bank.
- As of March 2018, the UAE Banks Federation, a body representing 50 banks in the country, was planning to launch its mobile wallet project – Emirates Digital Wallet by the end of 2018.
- In September 2017, Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd announced that they’re working to develop and implement emCash, an encrypted digital currency, which people can use to pay for various government and non-government services in Dubai.
- In November 2017, DIFC launched a US$100m FinTech-focused fund to accelerate the development of financial technology by investing in start-ups from incubation to growth stage.
- In June 2018, DIFC announced a partnership with incubator network Startupbootcamp. The partnership will explore setting up multiple programmes for early stage startups within the fields of FinTech, InsurTech and RegTech, in collaboration with a broad range of stakeholders from various sectors – beyond the realm of financial services.
Epistemic Interaction - tuning interfaces to provide information for AI support
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
DevOps and Testing slides at DASA Connect
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
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Chile FinTech Landscape
This document describes the Chile FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Chile has a population of 18m people as of end-2017 and mobile internet users account for 72% as of January 2018 according to Wearesocial. Chile’s government is spurring innovation through investments in startups and loosening restrictions for larger companies looking to penetrate the Latin American market.
Key Findings:
- Chilean FinTechs are driving financial inclusion and SME finance
- Chile’s regulators have recently moved to increase regulatory clarity for FinTechs.
- As of year end 2017, according to Finnovista, there were a total of 75 FinTech startups in Chile, a 34% increase from 2016. The top FinTech segments in Chile is Payment and Remittances, Enterprise Financial Management and crowdfunding at 30%, 16% and 15% of the total number of FinTech startups respectively.
- A survey conducted by Finnovista showed that 22% of startups operate beyond the national border and the main market where Chilean startups operate in is Mexico (33%). Chile’s FinTech ecosystem is relatively young with 81% of the FinTechs surveyed by Finnovista being created during the last 4 years.
- 40% of Chilean FinTechs have a focus on the underbanked and unbanked population. Financial inclusion in Chile have been improving with 63% of the population above 15 years old having access to a bank account.
- FinTech Association of Chile, the industry association, was launched in March 2018 with the purpose of promoting and strengthening the 4 pillars for the proper development of the Fintech industry, namely Public policies and regulation; Education, development and attraction of talent; Attraction of capital and investments; and Promoting the use of Fintech business services. as of October 29, the association had 21 members.
- Chilean startups can access funding from both public and private sources. On the public side, Production Development Corporation (CORFO), founded in 1939, aims to promote economic development in Chile. For every $1 funds invested, the CORFO can match an additional US$2 or US$3 with low interest debt. CORFO also sponsors Chilean incubators up to US$310k in grants for operations each year. There are 18 incubators listed on CORFO’s site in 2016.
-Start-upChile, launched in 2010, is an accelerator with 2 mandates: to elevate Chile’s international profile and to build out a local culture of entrepreneurism. It offers up to CL$50 million (80K USD) in equity free funding across its programs & over 100K of perks as a participant and has attracted technology entrepreneurs from all over the world. As of October 2018, Start-Up Chile has worked with over 1,300 startups, 51% of which are still active.
Toronto FinTech Landscape
This document describes the Toronto FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Key findings:
- As a FinTech hub, Toronto benefits from the abundant talent pool in financial services as well as technology.
- Major Canadian banks have connected with FinTechs through opening their API or through strategic investment.
- Toronto is the second largest financial center in North America after New York and eighth largest in the world. Major Canadian banks are headquartered in Toronto. Meanwhile, the Canadian tech startup scene is vibrant with famous SaaS companies such as Freshbooks, HootSuite and Shopify which are showcasing growth and emerging as next billion dollar companies. The availability of financial as well as tech talent, added together with the regulator’s initiative to grow the ecosystem, are helping the development of FinTech in Canada.
- As of May 2018, there are more than 140 fintech startups located in the Toronto region.
Canadian banks have taken various initiatives to connect with FinTechs. In March 2018, the Royal Bank of Canada launched its Application Programming Interface (API) developer portal.
- The RBC Developers portal will allow eligible, external software developers, industry innovators and clients to access select RBC APIs.
In June 2018, TD Bank bought Toronto-based artificial intelligence startup Layer 6, with the aim to transform itself in the industry shift from mobile-first to AI-first customer experiences.
- The Financial Innovation & Technology Association of Canada (FINACAN) was established with an objective to develop, support and promote FinTech ecosystem in Canada. It has 23 global alliance and 4,500 connections comprising FinTechs, investors and service firms.
- In February 2015, MaRS Discovery District (MaRS) launched the MaRS Financial Technology Cluster (MaRS FinTech) to provide a centralized hub to drive FinTech collaboration and innovation both domestically and internationally. MaRS FinTech is parked under MaRS’ Finance & Commerce sector and led by a FinTech director.
- Financial regulators in Canada, Ontario and Toronto have launched several dedicated initiatives to support FinTechs. In October 2016, the Ontario Securities Commission (OSC), which administers and enforces securities law in the province of Ontario, introduced the OSC Launchpad to provide regulatory guidance to new FinTech businesses.
-The initiative is staffed with representatives of regulator’s branches, including the Compliance & Registrant Regulation, Corporate Finance, Derivatives, Investment Funds & Structured Products, Market Regulation and Strategy & Operations.
Sweden FinTech Landscape
This document describes the Sweden FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Nigeria FinTech Landscape
This document describes the Nigeria FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Nigeria presents vast opportunity for FinTech as 37% of the population is unbanked but the population is young (it is estimated that 62% of the population is under the age of 25), and well-connected (internet penetration is 50.2% and mobile penetration is 84%). The regulator, the Central Bank of Nigeria, has established a regulatory sandbox for FinTech and is continuously exploring how to keep up with innovation in the space.
Key Findings:
- The regulator is exploring ways to regulate FinTech in order to keep up with innovation in the space.
- The government has multiple initiatives to support and encourage innovation for job creation.
- Digital payments, mobile lending and personal finance are currently the most popular areas where FinTechs are operating in.
- Some Nigerian fintechs are gaining worldwide attention of investors. Lagos-based payment company Paystack in August 2018 raised $80 million from Visa, Tencent, Stripe and Y Combinator. As of August 2018, Paystack had more than 17,000 live merchants (which includes Dominos, MTN, Taxify, and Lagos Internal Revenue Service). In July 2018, CowryWise, which helps Nigerians save and invest in government bonds, was selected to take part in the Silicon Valley-based Y Combinator accelerator.
- Banks in Nigeria are also leveraging FinTech to improve customer experience. One of Nigeria's biggest banks, FirstBank, launched the FirstBank Digital Lab in July 2018, at the “Yabacon Valley,” Yaba, Lagos mainland. The lab is designed to serve as a platform for FirstBank to collaborate and advance with the rapidly evolving FinTech.
- International investors are taking notice of the potential of Nigerian FinTech. For example, in August 2018, a UK government delegation, led by the UK prime minister, visited Nigeria to meet with entrepreneurs and forge connections with the African FinTech community.
- The group included representatives from the Financial Conduct Authority, the London Stock Exchange Group and the Prime Minister’s Ambassador for FinTech as well as representatives from big financial service players.
SMEs in Nigeria can receive funding from dedicated funds or take out loans at friendlier rates.
- The Bank of Industry (BOI) provides funding to small business by offering customer friendly rates through the youth entrepreneurship support fund and the national youth service fund, with a focus on technology companies.
Mexico FinTech Landscape
This document describes the Mexico FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Mexico’s FinTech ecosystem has been expanding, particularly the Enterprise Technologies for Financial Institutions and Trading and Capital Markets segments. Mexico presents a considerable opportunity for FinTech to further financial inclusion as bank account ownership of those aged above 15 years is only 35% in 2017, in contrast with high levels of digital penetration - more than 60% of Mexicans possess access to the internet in 2017 and smartphones account for almost 90% of internet connections.
Key Findings:
- As of August 2018, Mexico hosts 334 Fintech startups. The major areas of operations of FinTechs in Mexico are Lending, Payments and Remittances, Enterprise Financial Management, Personal Financial Management, Crowdfunding and Enterprise Technologies for Financial Institutions.
- Enterprise Technologies for Financial Institutions and Trading and Capital Markets segment are the fastest growing sub-sectors at 130% and 100% y-o-y growth respectively. FinTech Mexico, the country’s FinTech association, offers a collaboration space for companies with the aim to improve financial services for all.
- Comisión Nacional Bancaria y de Valores (CNBV) supervises and regulates all financial institutions including banks, non-bank finance companies, stockbrokerage houses and mutual fund companies, among others.
- In 2010, it launched a three-prong strategy to promote financial inclusion:
1. New products: low transactional and mobile accounts;
2. Increasing availability of channels: introduction of banking agents;
3. Innovative risk-based regulation: mobile payment regulation
- On March 10, 2018, the Law regulating Financial Technology Institutions ("FinTech Law") became effective. The law creates a regulatory framework applicable to persons who, through IT platforms or tools, facilitate the execution of financial transactions and services, whether through FinTech institutions ("FTI"), entities authorized to operate through regulatory sandbox models, or any authorized Mexican financial entities ("Financial Entities").
- Mexican FinTechs have attracted investment from local and global investors alike. Most well-known deals include the US$89 million round raised by the lending platform Konfio, led by Vostok Emerging Finance; the US$7 million raised by Curu, led by QED Investors; or the US$6 million round raised by ePesos, led by Santander Innoventures.
Banks have set up funds to invest in FinTech. For example, Santander launched the $100 million fund Innoventures in July 2014 to get closer to the wave of disruptive innovation in the FinTech space.
Dubai FinTech Landscape
This document describes the Dubai FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Dubai, the second largest emirate in the United Arab Emirates (UAE), with total population of ~2.7m of which 80% are expats. UAE has internet user penetration at 99%, social media penetration at 99% and unique mobile user penetration at 77% as per the We Are Social 2018 report, reflecting the country’s potential for digital banking services.
Dubai is taking initiatives in boosting application of blockchain. In 2017, Dubai announced its plan to become the world’s first Blockchain-powered government by 2020 and launched the Dubai Blockchain strategy, a collaboration between the Smart Dubai office and the Dubai Future Foundation, aimed at saving AED5.5bn annually in document processing.
Key Findings:
- The Dubai International Financial Center (DIFC), Dubai’s financial district, has 2,003 active registered companies operating, with a combined workforce of 22,768 people.
In January 2017, DFIC established FinTech Hive, an accelerator that aims to bring financial and technology firms together. During the first six months of 2018, 50% of start-ups from the FinTech Hive programme have set up in DIFC. These start-ups have raised a total funding of US$10million.
- Banks are leveraging technology in their services. The Commercial Bank of Dubai (CBD) launched its first personal finance management platform in October 2015. In the remittance and payments space, Emirates NBD launched P2P payments to its customers via MePAY in 2014, while RakBank launched ATM card-less cash withdrawals in 2014. CBD launched in April 2017 CBD Now, Dubai’s first digital only bank.
- As of March 2018, the UAE Banks Federation, a body representing 50 banks in the country, was planning to launch its mobile wallet project – Emirates Digital Wallet by the end of 2018.
- In September 2017, Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd announced that they’re working to develop and implement emCash, an encrypted digital currency, which people can use to pay for various government and non-government services in Dubai.
- In November 2017, DIFC launched a US$100m FinTech-focused fund to accelerate the development of financial technology by investing in start-ups from incubation to growth stage.
- In June 2018, DIFC announced a partnership with incubator network Startupbootcamp. The partnership will explore setting up multiple programmes for early stage startups within the fields of FinTech, InsurTech and RegTech, in collaboration with a broad range of stakeholders from various sectors – beyond the realm of financial services.
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