Regulation of ICOs: the end or beginning of a healthy market?

| 29-9-2017 | Carlo de Meijer |

One of the hottest – and also one of the most controversial – things in the crypto currency environment are so-called Initial Coin Offerings or ICOs. ICOs, which employ the use of crypto currencies, have become a popular means of fundraising for start-ups in recent months. The increasing need of blockchain technology and the lack of regulation allows them to raise money quickly in return to so-called tokens (also described as digital certificates). This hype has driven a steep rise in this sector’s market value, reaching a high of $177 bn.

The latest cryptocurrency boom however is beginning to stall as a growing number of regulators worldwide turn their attention to the ICOs world and have decided to come into action. China recently decided even to ban these ICOs. And others such as the US SEC, Singapore, Hong Kong, Russia and others followed soon though in a more lighter variant.

Is this the end of fundraising via ICOs or should it be seen as the beginning of a healthy market?

ICO hype

ICOs have become highly popular. In the past months there has been a complete hype around ICOs. ICOs have allowed digital currency start-ups, to raise millions of dollars quickly, in many cases from ordinary investors. The ICO fever is especially triggered by the success of Ethereum, the platform that invented the digital currency Ether. Already in 2014 Ethereum arranged a very successful ICO.

More than $1,6 billion has been raised worldwide from these ICOs up till now. China for example has seen 65 ICOs and 2.62 billion yuan ($400 million) raised from more than 100.000 individuals so far in 2017.

Read the full article of our expert Carlo de Meijer on LinkedIn

 

Carlo de Meijer

Economist and researcher

 

Hot topics in corporate treasury, the survey results

| 28-09-2017 | treasuryXL |

Last month we organized a small survey, one question, to find out which treasury topics are highest on the to-do the list in corporate treasury. In cooperation with Treasurer Search we reached out to our network. Due to the set-up of the survey I want to describe the results in two separate lists. We asked one question: “make a list with a maximum of five topics”. As this was a free text survey, there was a variety of answers. In total, we had to digest a list of roughly 125 topics mentioned. I want to emphasize that the scientific methodology for this survey would not have been approved by my graduation professor.

The first list is based upon key words only, with a very narrow read on topics:

  1. IFRS and other regulatory affairs;
  2. Risk management (policies and procedures);
  3. FX;
  4. TMS;
  5. Bank relations;
  6. 3rd party risk;
  7. Development of USD and GBP, based upon political developments;
  8. Cash flow forecasting.

Bear in mind that topic 1 has been mentioned 11 times, topic 8 is mentioned 5 times. This list gives you an indication but compares strategic with operational. And both FX as well as the USD & GBP topic in one list feels suboptimal.

After some internal discussion, we decided upon a different approach. Based upon what we encounter in corporate treasury every day, we decided to cluster topics on the same abstraction level and came upon the following list, in order of how often topics were mentioned:

  1. Markets & Risk, including political developments and their impact on both FX and IR (34 times);
  2. Liquidity management and cash flow forecasting, including relevant cash management topics (21);
  3. TMS, banking systems and fintech relevant for corporate treasury (18);
  4. Bank relationship management, including banking costs, risk and bank regulations (14);
  5. Regulatory affairs (IFRS) (11);
  6. Corporate finance and funding specifically (10);
  7. 3rd Party risk (6);

Here the difference between the difference between topic 1 and topic 7 is almost a factor 6. This list, in my opinion, paints a clearer picture. I am a bit surprised how prominent topic 1 is, how low funding is on the list and about 3rd party risk being on the list.

We will use the list to gather extra content and the students of the Hogeschool Utrecht will write blogs, using this list as input.

We look forward to your response on the results of this survey. See also https://www.treasuryxl.com/treasuryxl/hu-treasury-papers-digging-into-the-treasury-hot-topics/

 

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Lessons to learn: a higher euro threatens corporate Europe; how to handle this

| 26-9-2017 | Rob Beemster |

Do you run a business in Europe and the world is your market? Then you must face jitters due to the currency developments in the US and UK. The huge impact of Brexit on the sterling has seen a devaluation of around 30% against the Euro. The US dollar has weakened some 15% compared to early 2017.

These currency moves will be welcomed when you are importing from the US and/or UK. However, when you are exporter, than you don’t feel jitters but the pain will seriously hurt you. Many exporters see their UK/US  market share diminish, or maybe even disappear.  Normally, when a currency of an export market drifts down ( so the own currency gets more expensive ) we see price adjustments of the exporter.

First he will decrease his own margins, then he seeks price adjustments of his suppliers. After that , the whole chain will be analysed to look for improvements and cutbacks.

The Chinese have a saying that every crisis offers new chances. What chances would a weaker sterling and weaker dollar offer European exporters?

A, analysing the whole value chain, may offer new insights whereby you can create higher and/or cheaper production Most probably, these insights can give opportunities to improve your sales to other markets as well. Improving  your chain, constantly, is a very wise technique to stay ahead of your competition.  Before the introduction of the Euro, Germany worked on  this strategy for years. Bundesbank was a strong supporter of a firm German mark, so German exporters had to be aggressive and innovative to keep their business alive.

B, doing business outside the Euro territory brings currency risk. This is a component of your business you have to face. However, currency risk on new and running orders can be hedged. By doing so, you will protect your cash flow ( read profit ).  When profit margins are low, it is extremely important to have a good currency strategy. But even when margins are fairly high, a long currency move may take off your market share. Sterling has gone down for almost 2 years now. So a “safe market” should be hedged with a currency strategy too. A lucrative market may drift away by an ignorant behaviour of exporters.

Barcelona valuta experts can help you installing a decent currency strategy. We do not look for the cheapest way of doing your transactions but we look to your whole currency process. In the graph, below, you will notice that currency risk is present during the whole process. We can help you from the first step:  the offer to prospects till last payments are done.

We have a very interesting proposition for you, a free currency scan. After answering six easy questions, we can judge your currency overall / risk position. We will discuss the result with you, all without any obligation. Are you interested?  Call us on +31228528579 or mail to [email protected] and we will pass you the questionnaire.

 

Rob Beemster

Owner of Barcelona valuta experts BV

 

 

Does your treasury have a digital mindset?

| 25-9-2017 | Patrick Kunz |

 

In an previous article I have talked about the IT changes that make life easier for a treasurer in the future (or now already). In this article I want to talk about the digital mindset of the person using the IT – the treasurer. Treasury is a numbers game. We treasurers use these numbers to optimise the cash or risk of the company. We make money with money. These numbers have to come from somewhere in the organisation and it is usually never treasury itself.

BIG data

Big data is a hot topic in treasury but for treasury it was around longer. The treasurer needs to get their input information for all over the company. Cash inflow from sales, cash outflow from procurement and investment teams, HR etc. All this data needs to be gathered. The digital minded treasurer thinks about optimal ways of gathering this data: automatically. The treasurer starts its day with the actual cash balances and then looks forward. He/She basically needs to predict the future. How great would it be if all this data would be available with the push on a button. An ideal world ? Maybe, but it is possible. Bank statements can be automated to be loaded collectively or in a Treasury Management System. The treasurer starts the day with up to date cash balances, and he has not started working yet as this was automated. He then updates the cash forecast. How? By pushing update in his cash forecasting system. Sounds too easy? True, it took weeks to find out where to find the needed input information and to automate getting this data grouped together and in a structured way. But a digital minded treasurer knows that the data is somewhere in the organisation; it only needs to found and linked to the treasurers information recourses so it is always available. The treasurer only has to check the validity and the quality of the data and see if it needs improvement. In this way the digital minded treasurer can automatically create a cash forecast and continually improve it. A cash forecast should be ready before the second morning coffee. In an ideal world it would be ready with a push on a button. Artificial intelligence makes it possible. The digital minded treasurer is steering it.

Process improvements

The digital treasurer looks at ways to improve its document flows and payments. Not only looking at costs but also looking at how many (manual) interventions are needed. FX deals can be setup to straight through processed (STP) while blockchain would make it possible to improve the speed of payments or document flows globally. Everything is connected, as payments go from a process to straight through and instant it has an immedicate effect on the cash availability and forecasting. While now the bank is the place to go for bank accounts and payments this might not be the case in 10 years. The digital treasury might be able to setup his own bank in the future. By using technology.

The future

The treasurer makes sure that he is on the steering wheel while technology makes it possible for him/her to check his surroundings so he does not crash. A bigger front window makes for a better view forward (forecasting), a higher max speed makes for quicker travel (updating changes in forecasting), adaptive cruise control saves effort on speeds control (automatic updating and AI, STP). The treasurer knows he needs to keep the engine running to keep moving. He also realises that he does not need to be a mechanic to do this; however he needs to be able to tell the mechanics quickly why the car is not moving as the treasurer wants it to be so the mechanic can fix this. Or maybe the digital treasurer might change the car for a plane in the future, or even a rocket?

It is clear that technology and treasury are interconnected. Already now and even more in the future. A treasurer therefore needs a digital mindset to survive and keep up with the information needs of his department and the company as a whole. And it’s not rocket science (yet).

Patrick Kunz 

Treasury, Finance & Risk Consultant/ Owner Pecunia Treasury & Finance BV

 





 

The IT savvy treasurer

Saving on FX deals? Often neglected but potentially a “pot of gold”

How much are you paying your bank?

 

treasuryXL news: Community Manager

| 22-9-2017 | treasuryXL |

Since our start in April 2016, treasuryXL made major steps to become a well-established website. We are happy with what we have achieved and growth is promising. Currently, 12.000 site pages are visited on a monthly basis. We have a strong basis of readers who come back every month, often a number of times.

Our community is continuously expanding with authors, editors, sponsors and readers. We can provide you with fresh, treasury related content on a daily basis: articles, vacancies and events. In the start-up phase our main goal was gathering good content on a daily basis. This is what we are already doing over a year, a time consuming task! Gradually I have added distribution to this task, increasing our audience. The next phase of treasuryXL will be about increasing the number of partners and new channels to bring you treasury stories.

While being your community manager I’ve learned a lot about the treasury world and certainly made new friends! I look back on a dynamic time and many inspiring moments. Now, new, inspiring tasks await me in a new position. I want to thank you all for your support and the pleasant cooperation we have had. Currently we are still searching for new community manager. In the meantime treasuryXL can still be reached via [email protected] and 06-21303744.

Thank you all for a pleasant cooperation and perhaps our paths will cross.

Annette Gillhart – Community manager treasuryXL

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Brexit – hard or soft? What does it actually mean?

| 20-9-2017 | Lionel Pavey |

Brexit is a fact, no news here. Discussions about how this Brexit is going to look like are an ongoing topic in the newspapers. Hard Brexit or soft Brexit – what does it actually mean for the UK and the European Union? What are the consequences of a hard Brexit compared to those of a soft Brexit to all of us? It implies there are 2 paths that can be followed – actually there are 3.

3 paths

  • No deal
  • Hard – should really be called a clean Brexit
  • Soft – should really be called unclear Brexit

No deal

This is exactly as it says – if no deal is reached between both parties. UK would no longer be obliged to follow EU law and treaties. This would lead to a period of uncertainty and confusion and new treaties would need to be implemented, whilst both sides would not be receptive to each other. The EU could still try to pursue UK through international courts for monies that it felt were still owed. Highly turbulent, but could happen.

Hard

Leaving the EU by mutual consent but not actually agreeing on the future, UK would no longer have to observe the pillars of the EU that currently prevail. This includes such issues as immigration, free movement, asylum, fisheries and agriculture to name but a few. Trade would fall under WTO rules until a mutual trade policy could be drafted.

Soft

This implies links being retained between both parties, specifically towards trade. It would mean UK would gain entry to a tariff free EU market, whilst accepting free movement of people. UK would have to pay for entry, whilst being denied a vote in EU matters.

Scenarios and consequences

So, what are the chances of these scenarios and many others happening?
To answer that question we have to go back to the actual question asked at the referendum – “Should the United Kingdom remain a member of the European Union or leave the European Union?”
The wording is very important – it was not worded should we leave the EU; yes or no. This was to remove any bias in people’s comprehension as to what they were voting for. As the majority of the electorate voted to leave the EU, this makes any attempt at a soft Brexit difficult to justify against the vote of the people. Any agreement where UK pays the EU and accepts EU rule negates the referendum question.
If the referendum is negated by the actions of politicians against the will of the people, then this could lead to a crisis in the country. Flagrantly ignoring the will of the people could lead to social and political unrest.
Politicians in the UK work in Parliament, work for their party and also, very importantly, work for their constituents. A MP has to make him/herself available to answer questions from their constituents.

In the UK, voting, whilst primarily for a political party, is specifically for your local MP who represents you in Parliament. It would take a very brave (or foolhardy) politician who would ignore the will of the majority of the people. That is not to say that it could happen, just that the consequences are far reaching and difficult to predict.

The divorce settlement

The EU is demanding a sum of money from UK (currently thought to be around EUR 100 million) to settle outstanding commitments. As the 2 were never legally married, it appears an affront to demand money. UK was entitled to grant a referendum, allowing the people to decide, and no laws have been broken. The argument used by the EU that there is an agreed rolling budget for the period of 2014-2020 makes it appear that it is set in stone and can not be changed. Based on current UK contributions and the fact that they will leave in 2019, then EUR 100 million sounds excessive for the 1 remaining year of the budget.
Furthermore, if the EU wishes to pursue a divorce settlement, then UK can look at obtaining their rightful share of the assets of the EU – that also happens in a divorce. UK has been a net contributor to the EU budget for the last 40 years.

What are the consequences for all involved?

Markets will remain volatile – uncertainty will prevail at least for the next 18 months. Certain markets and countries will be badly affected – the EU fishing industry will certainly suffer if the UK exercise control over their maritime waters. Banking will be in a state of flux – will large banks leave UK and resettle in EU to have access to EU markets? Where will settlement of EUR transactions take place? German car manufacturers could be denied access to one of their top markets or face stiff tariffs to import their vehicles into UK. Will we be able to freely move and live where we want to, whilst seeking employment or claiming benefit?

The chances of forming any agreement within the next 18 months are small. There is so much that needs to be agreed upon in a relatively short time frame. If the will of the people is to be honoured, then one must draw the conclusion that the end result will be a hard Brexit.
If UK politicians choose for a Soft Brexit, then they could face the wrath of the people and a second Glorious revolution could happen, though I do not see Rutte playing the role of the Prince of Orange.
He, after all, ignored the will of the people over the Ukraine referendum…

I always try to write from an objective point of view. Being English by birth, I realize that a lot of what I have written can be perceived as subjective.I was unable to vote in this referendum but, if truth be told, I would have gladly voted to leave.
The EU has lost its way and further integration will eventually lead to fiscal union. This would result in a permanent transfer of wealth from the wealthy countries to the poorer. There would be no incentive for poorer countries to improve their economies – the rich will pay.

Lionel Pavey

 

Lionel Pavey

Cash Management and Treasury Specialist

 





More articles from this author:

The end of the Euro as we know it – When the party ends?

The treasurer and data

Managing treasury risk : Risk management (Part I) (Parts II – VII to be found on treasuryXL)

Blockchain Innovation Conference 2017- An inspiring event

Treasury for non-treasurers: Data analysis and forecasting – seeing the future by looking at the past (Part I)
(Parts II – III to be found on treasuryXL)

Building a cash flow forecast model

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Microsoft Coco Framework: blockchain game changer?

|18-9-2017 | Carlo de Meijer | treasuryXL

Microsoft recently announced the introduction of the Coco (or Confidential Consortium) Framework. A ‘first of its kind innovation’ as they named it, designed to work with any ledger or operating system. CoCo is a blockchain protocol technology aimed to make it easier to build enterprise networks quicker and more secure using any distributed ledger. Our expert Carlo de Meijer explains the relevance of the new technology for confidential consortiums in an article on LinkedIn.
We present a short summary of the article.

What’s the issue?

Corporate interest in blockchains is firmly growing. Embracing this innovative technology however remains a big hurdle for most enterprises, as there is no unified approach in this regard. As a result they have difficulties integrating in into their systems.

There are many different blockchains, but major blockchains are not designed to be interoperable with one another. As enterprises look to apply blockchain technology to meet their business needs, they’ve come to realize that many existing blockchain protocols fail to meet key business requirements. The problem is that most blockchain protocols today require complex development techniques to meet the operational and security needs of enterprises.
Issues like performance, confidentiality of data, governance and required processing power are still major stumbling blocks for using blockchains. One of the other key enterprise blockchain problems is that of access controls for transactions.

What is the Coco Framework?

The Coco Framework is an open-source Ethereum-based protocol, designed to provide high-scale and confidential blockchain networks for enterprise purposes. It should be seen as the foundation of blockchain for the enterprise.

It is designed to work with any ledger or operating system. It can connect existing blockchains with one another. The Framework is targeted especially for consortiums where nodes and actors can be controlled.

The Coco Framework is built to address some of the current limitations of enterprise blockchain. It is meant to reduce the complexity currently associated with blockchain protocol technology and make it easier for enterprises to adopt blockchain technology. This by increasing transaction speeds, offering confidentiality and simplify governance decisions. The ultimate goal is to boost widespread adoption, particularly among enterprises, of blockchain technology.

The CoCo Framework is not a decentralised solution in this regard as participants will still be able to exert a high degree of control over their blockchain. CoCo is more of a distributed ledger-oriented approach than a decentralised technology.

The design of the CoCo Framework

Microsoft is developing the CoCo Framework in cooperation with Intel, JP Morgan and Ethereum. The Coco platform is designed specifically for confidential consortiums, through the introduction of a trusted execution environment (TEE), advanced cryptography and innovative blockchain-focused consensus mechanisms “to open up new blockchain enabled scenarios across industries”.

The Coco Framework needs a trusted execution environment where nodes and actors are explicitly declared and controlled because it relies on shared trust between machines running modified blockchain software in order to avoid the need for transaction verification. With these TEEs a network of trusted enclaves can be build that all agree on the ledger and Coco code they are running. Because it’s an open framework, it can also support other compatible TEEs as they become available.

The idea is that enterprises may place their blockchain code in a trusted area, which is established through integrated tools such as Intel’s Software Guard Extensions (SGX) or Windows Virtual Secure Mode (VSM). These are hardware-based security technologies that the CoCo Framework uses to improve the throughput, efficiency and privacy of the blockchain.

Compatibility

The CoCo Framework is designed to integrate with a wide range of blockchains and distributed ledgers. It is meant to provide the infrastructural underpinnings for the growing number of such ledgers that are emerging from different vendors and groups. Although CoCo is not an actual ledger, it will help other companies with established blockchains to come together, link with each other and built large networks.

Problems to solve

Despite taking a more centralised approach there are many benefits to embracing the the CoCo Framework. When implemented into blockchain networks and processed in a trusted environment, allowing for a “simplified’ consensus mechanism” may solve the various privacy, speed and governance issues for commercial adoption by corporates. At the same time, ”they will not lack in security and immutability”, which are two of the driving factors behind blockchain technology as a whole.

According to the Coco Framework White Paper, these “enterprise-ready trusted blockchains networks” that all agree on the ledger and the CoCo code they are running, will deliver:

  • Throughput and latency approaching database speeds.
  • Richer, more flexible, business-specific confidentiality models.
  • Network policy management through distributed governance.
  • Support for non-deterministic transactions.
  • Reduced energy consumption.

When to start?

According to Microsoft, the company has now started exploring the CoCo Framework’s potential across different industries, such as retail, supply chain and financial services.

Microsoft plans to make the Coco Framework available as an open source software project by 2018. It will be posted to and available on Github.

You can find more details about CoCo in Carlo de Meijer’s article on LinkedIn.

 

Carlo de Meijer

Economist and researcher

 

 


More articles about blockchain technology from Carlo de Meijer:

 

HU Treasury Papers – Digging into the treasury hot topics

| 15-9-2017 | treasuryXL |

In earlier blogs we informed you about the minor treasury management at the Hogeschool Utrecht and the new Treasurer Development initiative. Together with you we will start connecting the dots in an exciting way and kill two or even more birds with one stone. This is how.

Currently, with your input, we are compiling a list of hot topics in treasury. If you did not complete the one-question-survey, please do so. Your opinion is important. The top 8 of this list will be handed over to the students attending the minor treasury management at the Hogeschool Utrecht. For each topic, one student or a small group will write a 400 word report, based upon literature and web studies. A report typically will be a description of the topic that can also be read by laymen as well as relevant current developments. These reports will be published as blogs on www.treasuryXL.com under the name “HU Treasury Papers” and used for educational purposes in their program. A number of experts from our community have already volunteered to help with editor and/or referee services for the articles.

Doing so, students will learn about corporate treasury. Most likely these blogs will be an excellent read for non-treasurers wanting to learn about the fundamentals. Together with experienced experts, these blogs can be stepping stones into internships and perhaps even first jobs.

If you are interested, this is how you can contribute:

  • Complete the survey;
  • Read and comment on the website or in social media;
  • Think about internships in your organisation;
  • Offer your time, expertise and/or network as a guest lecturer or expert in treasury internships.

You can respond to us at treasuryXL or contact Frans Boumans (e-mail: [email protected]) at the HU. We will further inform you and look forward to your input.

Annette Gillhart – Community Manager treasuryXL

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Kennismaking met de Discounted Cashflow methode

|14-9-2017 | Peter Schuitmaker |

 

De Discounted Cashflow (DCF) methode is een methode om de economische waarde van een object te bepalen. Toekomstige kasstromen worden op een of andere manier contant gemaakt naar het moment van waarderen. Dit is echter geen nieuwe wetenschap. Want de DCF benadering van waardering wordt in zijn basisvorm al vele eeuwen toegepast.

DCF methode

 

De DCF methode vindt toepassing voor het waarderen van projecten, beleggingsobjecten, ondernemingen, enzovoorts. Dat er een verschil bestaat tussen boekwaarde en economische waarde lijkt evident. Boekwaarde is het resultaat van een boekhoudkundig proces: investering minus afschrijvingen. Of voor de boekwaarde van aandelen: de kapitaalstorting plus winstinhoudingen minus de winstuitdelingen. Maar de economische waarde steunt op kasstromen en de tijdswaarde van geld.

Als voorbeeld de investering in een productieautomaat. De investering is 100. Gedurende 5 jaar wordt 25 bespaard. De productieautomaat wordt na 5 jaar afgestoten. Deze heeft dan een restwaarde van 20. Het geëist rendement door de vermogensverschaffers op de investering is 8%. De economische waarde laat zich dan eenvoudig berekenen: deze is dan 126. Dus 26% meer dan de boekwaarde.

Als dat object een beleggingsobject of een investeringsobject is, zijn de waarschijnlijkheid en omvang van toekomstige kasstromen relatief eenvoudig te bepalen. Zo’n investering en de daarmee samenhangende financiële gevolgen, zoals onderhoudskosten en besparingen, laten zich makkelijk begroten.
Maar wanneer dat object een bedrijf is wordt dat al snel beduidend lastiger. Dat komt vanwege de relatief grote onzekerheid over het ontstaan van vrije kasstromen. De onderneming is onderdeel van een waardeketen en opereert daarnaast in een dynamische marktomgeving. Ketenpartners, concurrenten en afnemers bewegen continu. Het waarderingsproces van MKB ondernemingen is daarom eerder een bedrijfskundige dan een rekentechnische uitdaging.

De DCF waardering van bedrijven is dus een lastige, soms vrijwel onmogelijke opgave. Dat is vervelend. Want bedrijfswaardering is een veel voorkomend onderwerp in de adviespraktijk van accountants, bedrijfsovername-specialisten en bedrijfsadviseurs. Bij bedrijfsoverdracht, uitkoop van een aandeelhouder, management buyout, bedrijfsopvolging binnen de familie of boedelscheiding doet zich het vraagstuk voor van een goed onderbouwde bedrijfswaardering. Want de financiële belangen zijn groot!

Kennis van de meest gebruikelijke DCF waarderingsmethoden helpt bij het oplossen van waarderingsvraagstukken. Het gaat hierbij om de basisprincipes en economische waarde. Maar ook begrippen als planperiode en restperiode, vermogenskostenvoeten, de WACC en Adjusted Present Value methode, goodwill, activa versus aandelentransactie en de waarde van de IB onderneming.

BBO&F en Bedrijfsopvolging.nl organiseren op dinsdag 26 september 2017 in Rotterdam een cursus ‘Kennismaking DCF voor bedrijfswaardering’. De cursus is bedoeld voor MKB accountants, administratiekantoren en overige financiële dienstverleners. Vooral praktijkgerichte concrete kennis van de achtergronden en uitgangspunten.

Meer informatie is te vinden via deze link

 

Peter Schuitmaker

Registered Advisor for Business Transfer and Succession

 

 

 

Peter Schuitmaker heeft ook gepubliceerd:

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De 100 meest veelbelovende FinTech bedrijven – wie wordt de winnaar?

12-9-2017 | FM.NL | treasuryXL |

Op 27 september is het zover. Buitenlandse investeerders en FinTech-specialisten van naam reizen dan af naar Brussel. Tijdens de European FinTech Awards & Conference 2017 zullen zij oordelen hoe de veelbelovende techbedrijven van Europa ervoor staan. De omgetoverde FinTech-awardzaal van ‘The Egg’ bombardeert  de Europese hoofdstad deze dag tot hét techcentrum van Europa. De top 100 aanstormende FinTech-bedrijven van Europa zijn bekend. Wie wordt gekozen tot winnaar?

Meer dan 34.000 FinTech enthousiastelingen hebben gestemd op hun favoriete Europese FinTech-bedrijf. Het is nu aan de FinTech vakjury: wie winnen de European FinTech Awards 2017? U hoort het op 27 september.
Honderden Europese fintechbedrijven staan op het punt door te breken en uit te groeien tot scale-up. Miljarden liggen klaar om geïnvesteerd te worden in bedrijven die de markten gaan veroveren. Wie wordt de volgende?

De 100 meest veelbelovende FinTech bedrijven

 FM.NL heeft de 100 bedrijven in een artikel gepresenteerd:
 

Bron: FM.NL

Top 3 FinTechs per categorie

 

 

 

 

 

 


Bron: FM.NL

Veelbelovende FinTech-bedrijven & verrassende visies op de European FinTech Awards in Brussel:
Deel expertise en visies. Laat u verrassen tijdens de vele kennissessies, keynotes en pitches. Krijg de beste antwoorden op uw vragen: Hoe schaalt u efficiënt een FinTech-bedrijf op? Wat kunnen we leren van succesvolle FinTechs? Hoe reageren banken en wat denken investeerders?

Laat u inspireren door de meest veelbelovende FinTech-bedrijven ten overstaan van aanwezige investeerders, stakeholders en andere belangstellenden op 27 september 2017.  Dit is de dag waarop u de beste FinTechs van Europa pas écht leert kennen.

Korting via treasuryXL

Bezoek de European FinTech Awards & Conference met korting
Ontmoet 27 september 2017 in ‘The Egg’ in Brussel 400 nationaal en internationaal befaamde FinTech-entrepreneurs, bankiers, investeerders en adviseurs. De European FinTech Awards & Conference 2017 biedt een unieke kans om uw netwerk te vergroten. Laat deze kans niet glippen om gearriveerde FinTech-sprekers op het podium te zien en 30 pitches te zien van Europa’s beste innovatieve ondernemingen van dit moment.

Speciaal als TreasuryXL community lid krijgt u 10% korting met de code: Friend2017, boek vandaag uw ticket(s)

De European FinTech Awards wordt georganiseerd door Alex van Groningen en B Hive. 

Annette Gillhart – Community Manager treasuryXL

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