Fintech Monthly  Update

Here is a run-down of the top Irish fintech news that made headlines last month.

New fintech start-up

A new fintech start-up launched last month offering a one card for all alternative with MasterCard. The Curve card was founded in London and allows for all bank cards to be combined into one at a cost of €45. The mobile app, however, is only currently available for iPhones.

Curve raised $2 million seed round late last year from investors including Betfair and TransferWise. A broader launch for Europe is planned for the coming months with the USA to follow.

Fico Credit Score no longer popular choice

Fico credit score usage is reducing. Over 90% of lenders used this to determine if someone will be granted a loan and what the interest rate should be. It looks as though big data and other technology platforms that result in far more information being generated and examined to provide a more accurate estimeation. The constant demands for safer loans is slowly seeing the reduction of the tradition Fico Credit Score method

Amsterdam the next Silicon Valley

The Netherlands is set to be Europe’s next ‘Silicon Valley’ as the use fintech is on the rise. Chairman of financial start-ups trade association Holland Fintech, Don Ginsel, said;

The Netherlands has a fantastic financial infrastructure. Nowhere in the world is payments more digitized than here. The Netherlands is the country with the fewest cash payments in the world”,

Willem Vermeend was appointed as the ambassador of the fintech sector there last week in order to tackle the lack of finance and legislation in the fintech area.

By Sorcha Jowitt of Vantage Resources.

Article Published: 02/03/2016