As a vendor of licensable fintech software products, we are often asked about our competitors and our USPs. Our customers want to know, what makes our products comparable and where we make a difference and have a special edge. In this article, I would like to elaborate on the feature set of our white label cryptocurrency trading platform CoreExchange and compare it to a couple of other well-known and popular exchanges.Read More
Asia, India, the Middle East
Payment around the world – where were we? In the previous articles of this series, we devoted ourselves to different payment landscapes of the globe. And with the trends and challenges, we found there.
But no matter which region we looked at: All of them stood on the verge of digital transformation or have crossed that line. China and the USA press ahead in terms of payment innovation, as we have seen in our second article. In other countries, digital payments are still in the process of taking hold in the populace. The changes they bring have already become apparent. Digital payment services play the role of an equalizer, especially for the unbanked people. Developments in Africa‘s and Latin America’s payment landscape, as detailed in the first article of this series, stand as an example for this.
We will see if those tendencies manifest in the last waypoints of our journey, too. So, let’s move on, shall we?
Financial education. It starts with simple questions. Just like this one:
For her 9th birthday, Emma asks her parents to put money on a savings account, instead of buying her presents. She rather wants to celebrate her next birthday in style, with party assets worth 200€. At a yearly interest rate of 5%, how many Euros must be put into the account to fulfill Emma’s birthday wish?
Sound familiar, such questions, right? We all had to answer a fair share of them in math class during 8th grade. Looking at them today, they still are tricky to answer for many of us. And you would have to explain your child, that putting €4000 on a savings account tears a big hole in your financial planning. And only under the premise that you would find a bank providing 5% interest on savings accounts. Which you wouldn’t. Emma, who already showed prudence in her financial behaviour not normally seen in her contemporaries, still has to face some hard truths.
USA, Canada, Australia, China
When exploring the payment preferences of the world, you have to go places. In the first part of our article series, those places were Europe, Russia, Latin America, and Africa.
The takeaway: Hard cash dies hard in many parts of the world like Germany, Hungary, Russia, and Brazil. But digital payment services have taken up the fight. They give new options to emerging countries with vast numbers of unbanked people. Mobile access to finances and digital-only money accounts help integrate the unbanked, so they can become proactive contributors to the financial system.
But it’s a large world with a great number of payment landscapes still waiting to be sketched. In this article, we will take a good look at the clashing fintech forerunners USA and China, as well as Canada and Oceania. So, let’s go!Read More
For over many years, trimplement has been active as a provider of emoney management software and digital payment solutions. But working for the fintech and finance sector, you have to accept one simple truth: Innovation warrants movement. To keep the pace in the ever-changing online sphere, you have to abandon old certainties and take bold steps forward.
So as it’s the beginning of a new month, we reveal our exciting new project:Read More
In the Apple Keynote in on March 25th, Apple announced its very own credit card. It will be using the Mastercard scheme and will be issued in cooperation with Goldman Sachs.
As of now, Apple is an established player in the payments space. Their payment solution Apple Pay serves more than 252 million estimated users globally.Read More
Definition: “Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. A stablecoin can be pegged to a currency, or to exchange traded commodities (such as precious metals or industrial metals). Stablecoins backed by currencies or commodities directly are said to be centralized, whereas those leveraging other cryptocurrencies are referred to as decentralized” – Wikipedia
Stablecoins by their nature aren’t necessarily a new invention to the financial world. Their basic characteristics have already been described in the first Electronic Money Directive (2000):Read More
Europe, Russia, Latin America, and Africa
Since those times, worldwide payment habits have aligned with each other a bit. But technological disruptions have different impacts in different countries. And the global financial system cannot complain about a lack of disruptive tech.
At a first glance blockchain and art are polar opposites. But how do they say: Opposites attract. Blockchain technology can help to solve many issues of the modern art market, for example:
- It can help to securely and transparently track provenance, copyright and ownership information
- It can provide frameworks for tokenization of real-world art objects, simplifying access to the art market and allowing “ordinary mortals” to become art investors and get partial ownership on expensive assets (see e.g. Maecenas project description below)
- Blockchain and cryptography can be the art environment itself, meaning they can be used to create and store digital art objects (like Crypto-Kitties described below)
- And of course, it can help artists to collect fundings for their art projects using the mechanisms of the so-called ICO (initial coin offering)
Let’s have a look at the most popular and interesting blockchain and art projects where creativity meets technology.Read More
We do a lot of things online.
We shop at online marketplaces. We rent movies at online video libraries. We manage our finances in online banking apps – all from the comfort of our homes. On the downside, criminals don’t have to stand up from their couch either, to rob your bank or steal your private data. Internet crime and assaults on cybersecurity occur in increasing numbers. Banking institutions are a popular target, as are their little, nonconformist peers: Fintech companies.