kpmg 50 best fintech innovators report 2014

8/10/2019 KPMG 50 Best Fintech Innovators Report 2014

1/65

[oi 9=Aist Hbctilo

Bcc`vft`rsQip`rt


2/65

[oi 9= Aist Hbctilo Bcc`vft`rs Qip`rt | ]fdi =1

Bctr`kultb`c

Kifr rifkir,

Ti fri ofppy t` prisict t` yù toi bcfudurfn 9= Aist Hbctilo Bcc`vft`rs rip`rt.

F l`nnfa`rftbvi ihh`rt aitwiic FTB, J]ED Fustrfnbf fck toi Hbcfclbfn \irvblis Lùclbn (H\L), toi rip`rt

pr`vbkis kiip fcfnysbs `h toi rfpbkny iv`nvbcd ctilo bckustry w`rnkwbki fck bkictbis toi dnàfn 9= Aistpirh`reirs.

[oi 9= Aist lèpfcbis fri to`si usbcd tiloc`n`dy t` toi aist fkvfctfdi fck krbvbcd kbsruptb`c wbtobc

toi cfclbfn sirvblis bckustry. [oisi lèpfcbis ofvi f lèebteict t` ixlinnicli fck f supirb`r lustèirixpirbicli fck f kie`cstrftik fabnbty t` k` `ci tobcd bc f efrjit aittir tofc fcy`ci insi.

Toy ctilo0 Fck woft kìs bt eifc t` toi cfclbfn sirvblis bckustry0Dnàfn ctilo cfclbcd ofs e`ri tofc trianik bc toi pfst torii yifrs t` fc istbeftik Y\$< abnnb`c fccufnny fck toi nivin `h bcc`vftb`c bc toi cfclbfn sirvblis silt`r ofs aiic ucprilikictik `vir toi pfst 61e`ctos. [oi nivin `h spick fck bcticsbty `h h`lus wbnn fck fnrifky ofs nik t` toi kivin`peict fck rinifsi

`h pr`kults fck s`nutb`cs toft wbnn lofcdi toi wfy lustèirs vbiw fck bctirflt wbto toibr cfclbfn sirvblispr`vbkirs h`rivir.

Bc fc bckustry toft wbnn s``c ai brriv`lfany lofcdik ay toi kbsruptbvi ihhilt `h bcc`vftb`c, toi lèpfcbis

k`bcd ctilo aist fri toi e`st nbjiny t` sulliik. Fnrifky, sèi `h toi w`rnks efg`r cfclbfn lictris friiqufnny ailèbcd jc`wc fs lictris `h ctilo bcc`vftb`c7 N`ck`c fck Ciw R`rj, h`r ixfepni. Hbctilo fltbvbtybs fns` `hhirbcd efg`r `pp`rtucbtbis h`r `toir cfclbfn lictris, bclnukbcd \ykciy.

\` toiris civir aiic f aittir tbei t` ai fwfri `h ctilo fck ispilbfnny, wo` bs k`bcd bt aist.

Tivi siniltik toi 9= Aist bcc`vft`rs h`nn`wbcd ixticsbvi dnàfn risifrlo fck fcfnysbs afsik `c kftfrinftbcd t` hùr hflt`rs7

t`tfn lfpbtfn rfbsik

rfti h lfpbtfn rfbsbcd

kidrii `h sua bckustry kbsruptb`c

kidrii `h pr`kult, sirvbli, lustèir ixpirbicli fck ausbciss e`kin bcc`vftb`c (f suagiltbvi rfcjbcdhrè iflo eieair `h toi gukdbcd pfcin).

[oisi fssisseict lrbtirbf riilt toi hflt toft victuri lfpbtfn bcvistik bs f rinivfct eifsuri `h bcc`vftb`cwoblo bc turc huins ickurbcd lèpitbtbvi fkvfctfdi. Xicturi lfpbtfnbsts siij tobs ickurbcd lèpitbtbvifkvfctfdi `vir fck fa`vi fcytobcd insi.

[oi lèpfcbis cfeik bc tobs rip`rt fnn tfji f winn-kisirvik p`sbtb`c fs toi 9= Aist. O`wivir toiri fri efcy`toir ixlbtbcd fck lriftbvi ctilo lèpfcbis frùck toi w`rnk. @ur bctictb`c bs toft fs toi ctilo bckustryl`ctbcuis t` iv`nvi, huturi btirftb`cs `h tobs rip`rt wbnn sii bt ailèi f ridbstir c`t gust `h toi 9= Aistbcc`vft`rs, aut `h fnn ctilo lèpfcbis.

B iclùrfdi yù t` vbsbt www.ctilobcc`vft`rs.lèt` ck ùt e`ri.

Rùrs hfbtohunny,

Aic Oifp

LI@, FTB Nbebtik
http:///reader/full/www.fintechinnovators.comhttp:///reader/full/www.fintechinnovators.com


3/65


4/65

[oi 9= Aist Hbctilo Bcc`vft`rs Qip`rt | ]fdi =;

Faùttoi nbst

Faùt toi nbst

[oi 9= Aist Hbctilo Bcc`vft`rs rip`rt bs f l`nnfa`rftbvi ihh`rt

aitwiic FTB, J]ED Fustrfnbf fck toi H\L fck fcfnysis toi dnàfn

ctilo spfli. [oi rip`rt obdonbdots to`si lèpfcbis dnàfnny toftfri tfjbcd fkvfctfdi `h tiloc`n`dy fck krbvbcd kbsruptb`c wbtobc toicfclbfn sirvblis bckustry.

[oi pr`liss h`r siniltbcd toi t`p 9= bcc`vft`rs bcv`nvik f ucbvirsfn

sifrlo h`r bcc`vftbvi ctilo lèpfcbis t` lrifti f lèprioicsbvinbst toft wfs toic rfcjik afsik `c ; hflt`rs7 t`tfn lfpbtfn rfbsik, rfti`h lfpbtfn rfbsbcd, n`lftb`c fck kidrii `h sua bckustry kbsruptb`c fck

toi gukdbcd pfcins suagiltbvi rftbcd `h toi kidrii `h pr`kult, sirvbli,lustèir ixpirbicli fck ausbciss e`kin bcc`vftb`c. F h`reunf wfstoic usik t` lèabci tobs kftf fck kitirebci toi `virfnn rfcjbcd.

FTB Xicturis

FTB Xicturis, toi victuri lfpbtfn fre `h FTB, bcvists bc ifrny stfdi

ctilo ausbcissis. FTB Xicturis bs fc bcvist`r bc \t`ljsp`t (pfdi ;2)fck \inhwifto (pfdi 86). Fs winn fs bcvistbcd bc ifrny stfdi kbdbtfn fckkbsruptbvi ausbcissis, FTB Xicturis ofs istfanbsoik Fustrfnbfs rstfck `cny Hbctilo Fllinirft`r, fck `ci `h toi rst bc toi w`rnk.


5/65


=6 Tifntohr`ct

Ft F Dnfcli Lèpfcy kislrbptb`c

[fdnbci7

Lnbicts trust Tifntohr`ct

t` efcfdi `vir $6 abnnb`c `htoibr fssits

N`lftik7]fn` Fnt`, LF, Y\F

Rifr Hùckik7

1=66

Jiy ]i`pni7Kfcbin Lfrr`nn, Fkfe Cfso fckFcky Qflonihh

Tiasbti7

www.wifntohr`ct.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

Hucks efcfdieict

Afsik `c yùr cfclis, bcvisteict d`fns, fck rbsj t`nirfcli, Tifntohr`ctkitirebcis o`w t` fnn`lfti yùr e`ciy flr`ss n`w-l`st bckix ixlofcdi trfkikhucks toft bcvist bc st`ljs, a`cks fck lèe`kbtbis frùck toi dnài. Bt l`ctbcuist` e`cbt`r fck futèftblfnny riafnfcli yùr p`rth`nb` t` efbctfbc toi tfrdit

fnn`lftb`c.

H`r fllùcts wbto aitwiic $9,=== fck $6=,===, bts fkvbli fck efcfdieictsirvblis fri hrii. H`r fllùcts wbto e`ri tofc $6=,===, Tifntohr`ct lofrdis fcfccufn hii `h =.19%, fck bclnukis f sirvbli t` oinp ebcbebzi fc bcvist`rs lfpbtfndfbcs tfx nbfabnbty.

\ua-bckustry kbsruptb`c

TifntoHr`ct `hhirs `cnbci futèftik bcvisteict sirvblis toft futèftblfnny

rifkgust bcvist`rs p`rth`nb`s fssit wibdotbcd bc kbhhirict lnfssis h`r flèpfrftbviny n`w hii.

Tivi fnn siic toi T`nh `h Tfnn \triit. Tik n`vi t` sii f w`rnkwoiri bckbvbkufns frict priyik `c ay sofrjs fck pfrfsbtis n``jbcd tìcrblo toiesinvis ay sinnbcd obdo-l`st, bcfppr`prbfti bcvisteicts. Fkfe Cfso, LI@, Tifntohr`ct
http:///reader/full/www.wealthfront.comhttp:///reader/full/www.wealthfront.com


6/65


=1 Jfaafdi


[fdnbci7

[oi w`rnks hfstist fck

ifsbist wfy t` dit hucks t`

dr`w yùr sefnn ausbciss.

N`lftik7Ftnfctf, DF, Y\F

Rifr Hùckik7

1==2

Jiy ]i`pni7Jftoryc ]itrfnbf, Qà Hròwibcfck Efrl D`rnbc

Tiasbti7

www.jfaafdi.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

N`fcs

Jfaafdi bs f cfclbfn fck kftf tiloc`n`dy lèpfcy toft ofs rfkblfnny lofcdiktoi wfy sefnn ausbcissis lfc àtfbc lfpbtfn.

Jfaafdi ofs ailèi toi cueair `ci `cnbci pr`vbkir `h w`rjbcd lfpbtfn t` sefnnausbcissis bc toi Ycbtik \tftis fck YJ.

Jfaafdis Kftf L`ctixt Icdbci l`ccilts t` toi kftf sùrlis toft sefnn

ausbcissis fnrifky usi iviry kfy -- sulo fs sobppbcd, fllùctbcd, s`lbfn eikbf,ilèeirli, pfyeicts fck `toirs -- fck nivirfdis tobs kftf t` kinbvir hfst, ixbanihuckbcd t` sefnn ausbcissis.


Jfaafdi ictirik toi sefnn ausbciss cfclbcd efrjit bc 1==2 bc toi wfji `h toiDHL woblo krbik up sefnn ausbciss cfclbcd lèpitbt`rs.

Bt sits btsinh fpfrt torùdo bts kftf l`ctixt icdbci woblo usis privbùsnyucl`cvictb`cfn kftf dicirftik torùdo ausbciss fltbvbty-sulo fs sinnir lofccins,

s`lbfn eikbf fck sobppbcd kftf-t` ivfnufti sefnn ausbciss n`fc fppnblfcts fckpr`vbki hfst, ixbani huckbcd.

Jfaafdi bs fani t` efji f n`fc wbtobc 4 ebcutis, woirifs afcjs efy tfji wiijs.

Kie`lrftbzftb`c @h T`rjbcd Lfpbtfn H`rais
http:///reader/full/www.kabbage.comhttp:///reader/full/www.kabbage.com


7/65


=< E`tbhBcvistbcd


[fdnbci7

\t`p pbljbcd st`ljs. \tfrtpbljbcd bkifs

N`lftik7

\fc Efti`, LF, Y\F

Rifr H`uckik7

1=61

Jiy ]i`pni7Ofrkiip Tfnbf, \ofci Eunr`cfck L`ccbi Juon

Tiasbti7

E`tbh Bcvistbcd bs fc `cnbci ar`jir toft nits y`u bcvist bc f w`rnk `h abd bkifs.

[obs ciw wfy `h bcvistbcd fnn`ws toi bcvist`r t` flt `c obs bkifs, ainbihs, fck

bcsbdots ay turcbcd toie bct` f e`tbh - fc bctinnbdictny wibdotik afsjit `h up t`


8/65

[oi 9= Aist Hbctilo Bcc`vft`rs Qip`rt | ]fdi =?

=; Jnfrcf


[fdnbci7

\bepnbhybcd Auybcd

N`lftik7

\t`ljo`ne, \wikic

Rifr Hùckik7

1==9

Jiy ]i`pni7\iafstbfc \biebftj`wsjb, CbjnfsFkfnairto fck Xblt`rGflàss`c

Tiasbti7

www.jnfrcf.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

[rfcsfltb`cfn sirvblis

Jnfrcf bs `ci `h Iur`pis nifkbcd pr`vbkirs `h pfyeict s`nutb`cs h`r i-lèeirli.

Jnfrcf sipfrftis auybcd hrè pfybcd ay fnn`wbcd auyirs t` pfy h`r `rkirik d``ks

fhtir rilibvbcd toie, pr`vbkbcd toie wbto f sfhi fhtir-kinbviry pfyeict s`nutb`c.

Jnfrcf fns` fssueis fnn lrikbt fck hrfuk rbsj h`r i-st`ris, pr`vbkbcd fssurfcli t`sinnirs toft toiy wbnn fnwfys rilibvi pfyeict.

Jnfrcfs vbsb`c bs t` icfani trust fck t` `hhir f hrbltb`cniss auybcd ixpirbicli tàuyirs fck sinnirs flr`ss toi w`rnk.


Jnfrcfs prbefry sinnbcd p`bct bs toft bt fnn`ws l`csueirs t` auy d``ks bc toi sfei

wfy fs toiy k` bc arbljs-fck-e`rtfr ritfbnirs - fnn`wbcd toie t` sii fck hiin toibrd``ks aih`ri purlofsi.

Bt kìs tobs ay ixtickbcd lrikbt t` so`ppirs fck fnn`wbcd toie t` pfy fhtir toiyrilibvi toibr d``ks, fnn`wbcd toie t` riturc d``ks aih`ri aibcd lofrdik.

Jnfrcf fns` fnn`ws usirs t` pfy usbcd `ci lnblj, `htic riqubrbcd nbttni e`ri tofc fciefbn fkkriss fck pfssw`rk t` pr`liss pfyeicts.

Ay efjbcd wia pfyeicts hfstir fck ifsbir, Jnfrcf lnfbes eirlofcts dit f 1= t`


9/65


=9 \qufri


[fdnbci7

Efjbcd Lèeirli Ifsy

N`lftik7

\fc Hrfclbsl`, LF, Y\F

Rifr Hùckik7

1==2

Jiy ]i`pni7Gflj K`rsiy, Gbe Eljinviy fck\frfo Hrbfr

Tiasbti7

www.squfriup.lè

\qufri, Bcl. bs f cfclbfn sirvblis, eirlofct sirvblis fddridft`r fck eàbnipfyeicts lèpfcy.

[oi lèpfcy efrjits sivirfn s`htwfri fck ofrkwfri pr`kults fck sirvblis,bclnukbcd \qufri Qidbstir, \qufri Qifkir fck \qufri @rkir

Ysbcd f hrii lrikbt lfrk rifkir `c toibr b@\ fck Fckr`bk kivbli, \qufri Qifkir

fnn`ws fcy`ci t` fllipt lrikbt lfrks fcywoiri, fcytbei h`r f n`w trfcsfltb`c rftipir swbpi fck c` obkkic hiis.

\qufri Qidbstir bs f hunn p`bct-`h-sfni systie toft fnn`ws ausbcissis t` flliptpfyeicts, efcfdi bties fck sofri eicu fck n`lftb`c bch`reftb`c.

\qufri @rkir nits pi`pni pnfli `rkirs h`r pbljup hrè n`lfn ausbcissis id. so`psfck ristfurfcts.

\ua-bckustry kbsruptb`c\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

[rfcsfltb`cfn sirvblis

\qufri fbes t` sbepnbhy lèeirli torùdo tiloc`n`dy. Auybcd fck sinnbcd soùnk

ai sbepni.

\qufri Qidbstir fnn`ws bckbvbkufns fck eirlofcts bc toi Ycbtik \tftis, Lfcfkf,fck Gfpfc t` fllipt `hbci kiabt fck lrikbt lfrks `c toibr b@\ `r Fckr`bksefrtpo`ci r tfanit lèputir.

[oi fpp supp`rts efcufnny ictirbcd toi lfrk kitfbns `r swbpbcd toi lfrk torùdo

toi \qufri Qifkir, f sefnn pnfstbl kivbli woblo pnuds bct` toi fukb` gflj `h fsupp`rtik sefrtpo`ci `r tfanit fck rifks toi efdcitbl strbpi.

@c toi b]fk virsb`c `h toi \qufri Qidbstir fpp, toi bctirhfli risieanis ftrfkbtb`cfn lfso ridbstir.

[oi Efc To` Efki toi Lfso Qidbstir @as`niti Bssbi Nfp`wsjy vbf Bcl.lè
http:///reader/full/www.squareup.comhttp:///reader/full/www.squareup.com


10/65

[oi 9= Aist Hbctilo Bcc`vft`rs Qip`rt | ]fdi 6=

=8 Nickbcd Lnua


[fdnbci7

Aittir Qftis. [`ditoir.

N`lftik7

\fc Hrfclbsl`, LF, Y\F

Rifr Hùckik7

1==8

Jiy ]i`pni7Qicfuk Nfpnfcloi, \l`tt\fca`rc fck Lfrrbi K`nfc

Tiasbti7

www.nickbcdlnua.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

Qitfbn afcjbcd

Nickbcd Lnua bs toi w`rnks nfrdist piir-t`-piir nickbcd pnfth`re.

Bt `pirftis f piir-t`-piir nickbcd wiasbti h`r pirs`cfn n`fcs.

[oi lèpfcy fssissis fppnblfcts rbsj fck nits bcvist`rs nick kbriltny t`bckbvbkufns `r sprifk toibr e`ciy flr`ss f cueair `h n`fcs. A`rr`wirs fri

lofrdik fc `rbdbcftb`c hii `h 6%-9% (kipickbcd `c lrikbt rbsj) fck lrikbt`rs f

sirvbli hii iqufn t` 6% `h toi n`fc feùct.


Nickbcd Lnua `hhirs `cnbci afcjbcd woiri bcvist`rs nick kbriltny t` bckbvbkufns.

Nickbcd Lnua stfrtik wbto `ci sbepni ebssb`c7 t` lrifti f e`ri ihlbict,trfcspfrict fck lustèir-hrbickny fntircftbvi t` toi trfkbtb`cfn afcjbcd systietoft `hhirs lrikbtw`rtoy a`rr`wirs n`wir bctirist rftis fck bcvist`rs aittir

riturcs.

Nickbcd Lnuas pnfth`re ofs toi p`tictbfn t` pr`hùckny trfcsh`retrfkbtb`cfn afcjbcd `vir toi cixt kilfki. Nfrry \ueeirs, 46st \ilritfry `h toi [rifsury `h toi Ycbtik \tftis `h Feirblf
http:///reader/full/www.lendingclub.comhttp:///reader/full/www.lendingclub.com


11/65

[oi 9= Aist Hbctilo Bcc`vft`rs Qip`rt | ]fdi 66

=4 @cKilj


[fdnbci7

Ausbciss N`fcs Tbtoùt [oiOurknis

N`lftik7

Ciw R`rj, Y\F

Rifr Hùckik7

1==4

Jiy ]i`pni7Ebtlo Gflàs, C`fo Arisn`w,Gfeis Oàs`c fck O`wfrkJftzicaird

@cKilj pr`vbkis n`fcs t` sefnn ausbciss `wcirs torùdo bts tiloc`n`dy pnfth`re.

@cKiljs bcc`vftbvi tiloc`n`dy pnfth`re nivirfdis iniltr`cbl bch`reftb`cbclnukbcd `cnbci afcjbcd fck eirlofct pr`lissbcd kftf t` bkictbhy toilrikbtw`rtobciss `h sefnn ausbcissis bc ebcutis.

[oi lèpfcys tiloc`n`dy pnfth`re nivirfdis iniltr`cbl bch`reftb`c bclnukbcd

`cnbci afcjbcd fck eirlofct pr`lissbcd kftf t` bkictbhy lrikbtw`rtobciss`h ausbciss. Bt `hhirs ristfurfct, kictfn, dr`liry st`ri, bcvict`ry, ausbciss

iqubpeict, fck lfso `w n`fcs.

[oi lèpfcy fns` pr`vbkis eikblfn, ristfurfct, ausbciss ixpfcsb`c, fck w`rjbcdlfpbtfn cfclbcd sirvblis.


Tiasbti7

www.`ckilj.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

N`fcs

\efnn t` Eikbue ausbcissis (\EAs) k`ct ofvi cfcli kipfrteicts `r toiixpirbicli toft wùnk dicirfnny efji toie fttrfltbvi t` nickirs.

Flliss t` lfpbtfn h`r toisi ausbcissis bs kbhlunt ailfusi afcjs trift ausbcissn`fcs bc toi sfei wfy toiy k` pirs`cfn n`fcs, usbcd toi ausbciss `wcirs pirs`cfn

lrikbt sl`ri fs toi efbc lrbtirbf bc ivfnuftbcd toi ausbciss lrikbtw`rtobciss.

[riftbcd \EAs fs bckbvbkufn a`rr`wirs, fs `pp`sik t` ivfnuftbcd toi lrikbt

p`tictbfn `h toi ausbciss btsinh, `htic nifks t` rigiltb`c `r `wcirs `cny aibcd fanit` rfbsi f p`rtb`c `h toi e`ciy toiy ciik t` dr`w toibr ausbciss.

Ti bcvistik bc @c Kilj ailfusi wi ainbivi bc toi tifes dfei-lofcdbcd vbsb`c, str`cd tfnict fck kbsruptbvi tiloc`n`dy Jfrbe Hfrbs, dicirfn pfrtcir ft D``dni Xicturis
http:///reader/full/www.ondeck.comhttp:///reader/full/www.ondeck.com


12/65


=? A`rr`


[fdnbci7

Ycn`lj toi Xfnui hrè Rùr]irs`cfn Fssits

N`lftik7

N`ck`c, YJ fck CR, Y\F

Rifr Hùckik7

1==?

Jiy ]i`pni7]fun Fbtjbc, G`cfto`c Fnarbdotfck ]fun Fbtjbc

A`rr` bs f YJ-Y\ `cnbci nickir pr`vbkbcd so`rt tire n`fcs t` lnbicts bc ciik `hhfst flliss t` lfso.

[oisi n`fcs fri silurik fdfbcst l`nnftirfn fck pirs`cfn fssits sulo fs ci frts,fctbquis, giwinniry, nuxury wftlois, pristbdi fck lnfssbl lfrs, ci wbci fck e`ri.

]i`pni efy ofvi vfnufani d``ks aut c`t icùdo lfso lfpbtfn t` efji f lirtfbc

bcvisteict, ofckni ucixpiltik ixpicsis, itl. A`rr` fnn`ws toisi bckbvbkufns t` k`s`. [oi pr`liss lfc ai lèpnitik ictbriny `cnbci fck cbsoik wbtobc 1; oùrs.

A`rr`s typblfn lnbicts bclnuki sefnn ausbciss `wcirs wbto lfpbtfn bssuis, pr`pirty

kivin`pirs fck cfclbfn trfkirs wo` sii bcvisteict pp`rtucbtbis.


Tiasbti7

www.a`rr`.lè

\tfhh7

\bzi7

$ $ $ $ $

\pilbfnbsftb`c7

N`fcs

Ft f tbei woic sefnn res l`ctbcui t` lèpnfbc toft afcjs fri ucwbnnbcd t` nick,pfwcar`jirs flr`ss toi YJ fri rip`rtbcd rbsis bc toi cueair `h ausbciss pi`pniriquistbcd h`r so`rt-tire n`fcs.

A`rr` sfys bt ofs siic f ;9% rbsi bc sefnn ausbciss lustèirs `vir toi pfst sbxe`ctos fn`ci.

H`r toi rst torii e`ctos `h 1=6; YJ tiloc`n`dy bcvisteict duris guep t` 9


13/65


kpmg 50 best fintech innovators report 2014

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