Best Peer-to-Peer Lending Platform 2018

We are delighted to announce that Minterest is awarded the Best Peer-to-Peer Lending Platform 2018 – Singapore by the Global Business Insights Awards 2018.

The Global Business Insight Awards celebrate business leadership, innovation in finance and investment and sector success across all seven continents of the world.

 

Making Connections: SME Interview Series – Minterest

Founded in 2016 by three experienced finance professionals, we, Minterest, seek to empower small businesses by connecting them with individual investors through marketplace lending platform. Till date, we have raised more than S$32 million in small business loans. To find out more about our success and future plans, ValueChampion interviewed our Co-Founder and CEO Charis Liau.

When did Minterest begin its operations?

Minterest was incorporated in March 2016 and commenced operations in May 2017 after securing its Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS) in January 2017. Since May 2017, Minterest has assisted businesses in Singapore that were underserved by the conventional financial institutions by disbursing more than S$32 million in loans over almost 90 different transactions.

When and how did Minterest first obtain funding? How long did it take to raise funding?

Minterest was initially funded by the founders and prior to commencing operations, we secured seed funding from friends and family. This took place over a week which was relatively quick.

What was the biggest challenge that Minterest had to overcome to raise capital? What strategy, tactic or know-how was the most helpful in convincing investors to invest in the company?

The biggest challenge at that time was that we just had a concept with no operating history to prove that the business can be successful. But once we shared our vision, mission and how we plan to execute them, the investors were convinced. The fact that the founders and senior management team have significant banking and financial experience (125 years in total) provided another layer of comfort to the investors that we know what we were talking about.

After its initial funding, did Minterest ever require additional financing? Why?

We have not had to raise additional funding so far but the time has come for us to do so. As we move into the second half of our second year in operations, additional resources would be required for further technology build-out, marketing and other operational matters as we seek to scale our business and expand to the region. We now have a viable business model and having proven the business concept, it is now time to move into the next stage of our business evolution.

What type of financing did Minterest obtain? Which sources did Minterest consider? How was this helpful for your business?

Minterest has only raised equity so far and will be looking to do the same in our next round of financing. For the new round of financing, we will be looking at VCs and a couple of investors who have supported us during our growing period over the last 18 months. The equity that was raised was important for the business as it provided financing for operations as well as the necessary capital base that is required by the MAS.

How does Minterest help businesses better manage their finances?

We bring the big corporate fundraising experience to small businesses given our deep and broad banking and financial experience. Our borrowers’ journey includes a reasonably in-depth analysis of future cash flows. Not only does this exercise assist in our credit assessment of the borrower’s ability to repay the loan, it also helps the borrower’s management to better understand how their expected cash position would be like in the future. Some of our borrowers have continued to use this tool to measure how well their forecasting is when matched against actual numbers.

How does Minterest distinguish itself from Singapore’s other crowdfunding platforms?

Minterest distinguishes itself from others through the following “3P”s:

  • People

Former bankers with a combined 155 years’ of experience who understand credit, structuring and security mechanisms. Platform investors invest with the knowledge that every deal is properly assessed and put through our proprietary Mintgrade credit scoring algorithm.

  • Products

A wide range of products across all risk spectrum to feed the appetite of platform investors, allowing them to diversify their portfolio. Products are divided into four broad categories – Small Loans, Invoice Financing, Structured Loans and Convertible Loans. The diversity of products generally leads to stickiness amongst the platform investors.

  • Processes

A set of transparent and clear processes to analyse and assess loan applications. The automated workflow that was developed in-house allows the team to quickly assess and process deals – this applies to all product categories. We have also developed a credit scoring engine that assign a rating to every loan application. The rating system is much appreciated by our investors as it provides a quick snapshot of the risk profile of the loans that are listed on the platform.

What advice would you offer to other startups in Singapore who are looking for ways to finance their businesses and operations?

It is important that start-ups have a clear vision and mission and how they are going to execute on them. Without identifiable cash flow sources, it will be very difficult for such companies to raise financing especially in the debt space. There could be a possibility to raise equity financing but investors need to be convinced that the people and business model are right and can be differentiated against competitors.

Did Minterest consider any other locations besides Singapore as its headquarters? Why/why not?

Singapore as Minterest’s headquarters is a natural choice. The founders are based in Singapore and it is also a major financial centre and fintech hub in the region. The regulatory regime is forward looking and is conducive for a business like ours to grow and flourish. With high regulatory standards ensuring our processes are of the highest standards, we will then bring these standards to other countries as we seek to provide our services to the unserved and underserved businesses in the region.

What makes Minterest’s work most challenging? Rewarding?

The most challenging aspect is in the deal selection process. We see hundreds of loan applications each month and whilst many have interesting ideas and products, it is important not to lose sight of the most important criteria for loan approvals – cashflows. We have developed our proprietary screening model taking into account over 200 data points to assess each deal. Structuring of repayment sources is critical in our opinion as we need to ensure that the loans can be repaid on time to our investors.

The most rewarding part is when we disburse a loan to a small business knowing that the proceeds will be used to turbo-charge the borrowers’ business, allowing them to continue to provide employment to the Singapore workforce and contribute positively to the country’s economy.

 

This article was contributed by ValueChampion.

Singapore and Indonesia working on S$13.8 billion bilateral financial agreement

To support monetary and financial stability in both countries, Singapore and Indonesia will be working out a US$10 billion (S$13.8 billion) package, comprising bilateral local currency swap and United States-dollar denominated repurchase agreements.

This was announced on Thursday (Oct 11) by Prime Minister Lee Hsien Loong who met with Indonesian President Joko Widodo at the third Singapore-Indonesia Leaders’ Retreat.

Singapore's Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo witnessing the signing of the Bilateral Investment Treaty by Singapore's Trade and Industry Minister Chan Chun Sing and Indonesian Foreign Affairs Minister Retno Marsudi in Bali on Thursday (Oct 11).

Both leaders discussed a range of issues, including the review of the double taxation agreement between the two countries, and how the pact will help provide the right infrastructure and incentives for business leaders to invest.

They also spoke about the uncertain external economic environment which has affected many financial markets. Mr Lee said: “We have tasked our two central banks, which means the MAS (Monetary Authority of Singapore) on our side and the Bank of Indonesia on their side, to work out and conclude a bilateral financial arrangement soon.”

MAS managing director Ravi Menon said both sides are having preliminary discussions and details of the US$10 billion agreement “should be out soon”.

He explained that currency swaps or the repurchasing of the US dollars by central banks only happen when either party requests for it, but the vast majority are usually standby arrangements that serve to instill confidence in the market.

The current instability in financial markets arising from the normalisation of US monetary policy has sent capital moving out of emerging markets, including Indonesia. That has sent the Indonesian rupiah tumbling to its lowest level in two decades.

“Some outflow of emerging markets is perfectly normal and to be expected. But you just want to make sure it does not become a snowballing effect, that it does not become overdone. The most important reason for doing this… to build confidence in the region in the current climate of financial market turbulence,” Mr Menon said.

He also added that Singapore wants to make sure Indonesia is well-placed to ride out this period of fund outflows due to Singapore’s investments and business interests in the country.

“Indonesia has been feeling a little bit more of the pressure in the currency markets. … This we regard as something temporary because of the temporary nature of the situation that emerging markets are facing. We are pretty confident that Indonesia will emerge from this well within a year,” Mr Menon said, adding that the macro fundamentals of Indonesia are sound and its policy responses are judicious.

Singapore also has currency swap agreements with the central banks of China and Japan, and these agreements are renewed every three years.

Mr Lee — who is on a two-day visit in Bali —and Mr Widodo also witnessed the signing of several agreements, including the bilateral investment treaty which sets out rules on how Indonesia should treat investments and investors from Singapore and vice versa.

In a joint press statement by both countries, Mr Lee said the bilateral investment treaty “will encourage greater flows of investments into Indonesia”. Separately, Singapore’s Ministry of Trade and Industry said it would give companies greater certainty and confidence, as their interests are protected.

Singapore has been the top investor in Indonesia since 2014, with US$8.4 billion (S$11.6 billion) invested in 2017.

Singapore’s trade with Indonesia totalled S$59.4 billion in 2017, making Singapore Indonesia’s third largest trading partner after China and Japan. Indonesia is Singapore’s sixth largest trading partner after China, Malaysia, the United States, Hong Kong and Taiwan.

This is the third Leaders’ Retreat between both countries. The previous one was held in Singapore on Sept 7 last year, commemorating 50 years of diplomatic relations between both countries.

Mr Lee said he had a “fruitful discussion” with Mr Widodo on how both countries can deepen cooperation.

For example, Mr Lee said both leaders talked about how adjusting incentives and rules, such as the minimum investment amount, can encourage companies to invest in the Kendal Industrial Park and Nongsa Digital Park.

Kendal Industrial Park, which was launched at the 2016 leaders’ retreat and located at Central Java, is a project by Sembcorp Development and PT Jababeka of Indonesia. It is supported by the governments of both countries.

Nongsa Digital Park at Batam was launched in March this year to develop Batam as a “digital bridge” between Singapore and other Indonesian cities.

Both countries are also looking to develop a fellowship programme for regional leaders in Indonesia, which will be called the Rising Fellowship. Mr Lee said he hopes young leaders from various Indonesian provinces can come to Singapore and learn from one another.

Mr Lee also offered his condolences on the recent earthquakes and tsunami which devastated Central Sulawesi. A 7.5 magnitude earthquake and a tsunami struck the Indonesian island on Sep 27, leaving more than 2,000 people died.

In addition to deploying two aircrafts to send humanitarian assistance and assist with rescue efforts, Mr Lee said that many Singapore groups and non-governmental organisations have been actively fundraising to support relief efforts.

“Singapore stands with Indonesia during this difficult time. We are confident that these affected areas in Indonesia will make a quick and strong recovery,” he added.

On Thursday, a magnitude-6 earthquake struck off the Indonesian islands of Java and Bali, killing three people in Java and damaging some buildings while causing panic among residents.

Tremors were felt in Bali, where the Singapore-Indonesia Leaders’ Retreat is held concurrently with the annual meetings of the International Monetary Fund and World Bank.

Writing on Facebook, Singapore’s Defence Minister Ng Eng Hen, who is part of the high-level delegation accompanying Mr Lee, said he was woken up in his hotel room by a brief tremor but “apart from the lampshade swaying, everything else seemed fine”.

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Minterest: 30 Best Small Companies To Watch 2018

Established in March 2016 and led by Charis Liau and Ronnie Chia, Minterest is a leading online marketplace funding platform connecting investors with borrowers, and is regulated by the Monetary Authority of Singapore. As former bankers with deep experience in corporate and structured finance, Minterest was started with a bold ambition to build a new financial eco-system in Singapore.

The company started its journey by assisting a small business making waves in the coffee scene in Singapore. The business needed some financing assistance to expand into other countries in the region and Minterest stepped forward for the fundraising. Being the first deal on the platform, it was unclear how the fund raise would perform but when the campaign got underway, there was a lot of interest from its investors. The offering was snapped up in no time and the team at Minterest drew strength and encouragement from that experience to work even harder to deliver on its mission and vision.

Today, Minterest’s loans are snapped up so quickly in Singapore that 97% of the company’s loans are fully participate within a day; in fact, many were fully completed in less than 60 seconds. “We see a very strong demand and supply of liquidity in Singapore to participate in private business loans,” says Charis Liau, CEO of Minterest Private Limited.

In-Conversation with the Leaders of Minterest, Ms. Charis Liau, and Mr. Ronnie Chia:

Q. There is nothing more important for a successful small business than a well-defined mission and vision statements. Can you explain your M&V statements in brief?

At Minterest, we believe in bringing financial inclusion to the unbanked and underserved needs of businesses. Businesses have constantly been constrained by various requirements of conventional finance providers and as experienced former bankers, we believe we can turbocharge their businesses to bring their future to the present. We also believe in enabling investors with financial knowledge and access to quality investments, offering them a path to financial empowerment.

As a leading marketplace funding platform, Minterest uses a broad spectrum of innovative technologies and our team’s financial expertise to overcome existing real-world financial shortcomings.

Q. A small business/company may or may not function as expected. It takes everything to stand out and compete in the business world. Was it the same for Minterest?

Being a new start-up, it is not easy, especially when it comes to the area where you are dealing with people’s money. Financial Services is a trust-based industry and to acquire investors, we needed to work hard to demonstrate that the offerings we list on our platform are well-structured and risk-mitigated.

Having a team of experienced former bankers with a combined 155 years of banking and financial experience, we developed our own proprietary credit scoring algorithm drawing on over 200 data points of each borrower. Investors now look at the rating of each loan that is listed and would immediately be able to have a quick overview of the underlying risk profile of the particular loan offering. Borrowers, on the other hand, initially had no idea that we exist. However, through education, creating greater awareness and working with the various government regulatory bodies, we are engaging borrowers who are now viewing us as a true, faster and more viable alternate source of financing for their businesses.

Q. Fostering a culture of feedback is crucial to the success of every organization. How is this true with your company?

Talking about the culture of feedback, we are constantly looking to improve our ways of doing business and how we can be more efficient and effective. We have an open channel with our investors through the use of the Telegram app. This allows us to be close to our investing community and know their requirements and pain points. This communication channel has allowed us to adapt our business practices to better improve the user experience.

Q. Any company, big or small, must have the sense of authenticity and originality to succeed. Is your company a ‘leader’ or a ‘follower’?

We see ourselves as a leader given our deep financial expertise in the lending space. Our secret sauce is in fact the workflow that we have developed in-house. This relates to how we process loan applications in the most efficient and effective manner – 80% of the loan assessment process is automated – allowing us to achieve scale. In addition, we were the first marketplace funding platform in Singapore to procure an insurance wrap on a loan to mitigate the non-payment of the loan by the borrower. Such insurance facilities are typically reserved only for the banks.

At Minterest, we firmly believe in staying true to our values, creating a strong financial eco-system thereby enhancing the value for our borrowers, investors and stakeholders.

Crafting the Future Roadmap

ASEAN is the world’s 3rd largest market after China and India with a population of over 640 million. With the massive emergence of the middle class, the rise of consumerism and digitally active population, the internet economy is expected to grow to USD200 billion by 2025, with more than 480 million internet users by 2020. However, 73% (438 million) of the ASEAN population are unbanked. Therefore, a huge market opportunity exists for platform lenders to serve the needs of the unbanked population and Minterest believes that it can and will play a key part in this movement to address their needs.

Minterest aims to bring its mission and vision to the South East Asian region, empowering both investors and borrower who are underserved and unserved by the traditional financial institutions. Looking into the future, in a couple of years from now, the company is expected to be operating in a few other countries – Malaysia, Thailand, Indonesia, Philippines,and Vietnam.

Making A Difference

Charis Liau, CEO and Co-Founder: Charis has more than 16 years of banking and financial experience in Asian markets. During her banking career, she specialized in structured finance, asset finance solutions, and corporate lending and relationship management for corporates in Asia.

Charis holds a Fintech Certificate in Future Commerce from Massachusetts Institute of Technology, has a Bachelor’s Degree in Accountancy (First Class Honours) from Nanyang Technological University, Singapore and is a Chartered Financial Analyst (CFA) charter holder from the CFA Institute.

Ronnie Chia, COO and Co-Founder: With 26 years of corporate and structured finance experience, Ronnie is a finance and banking veteran having worked in merchant banking, corporate and structured finance. He started and led numerous business units at an international bank.

Ronnie graduated from the University of Canterbury, New Zealand with a Bachelor of Commerce Degree majoring in Accountancy and Business Administration.

“Our aim is to empower businesses and investors to enable them to reach their financial goals.”

 

This article was contributed by The Silicon Review.

Minterest at official launch of Networked Trade Platform (NTP)

Minterest is honoured to be a part of the official launch on 26 Sept 2018 of Singapore’s Networked Trade Platform (NTP) and the opportunity to meet with our very own Finance Minister Mr. Heng Swee Keat to share about how we help fill the financing gaps for our Singapore corporates.

 

Jointly developed by Singapore Customs and the GovTech Singapore, the NTP is a one stop digital trade and logistics platform connecting players across the world, digitising paper trail, achieving greater economic integration and expansion of intra-Asean and intra-Asia trade.

New trading platform to digitalise paper-based trade processes, grow trade opportunities

A single trade today can involve more than 25 parties, generating 30 to 40 documents and requiring 60 to 70 per cent of the information to be manually re-entered at least once.

But a new online trading service, which combines all customs and trade-related services into one platform, aims to cut back on such onerous paperwork.

The Networked Trade Platform (NTP), launched on Wednesday (Sept 26), brings together four government certification services required for trading in and out of Singapore, as well as another 25 value-added services by third-party firms geared towards trade. Three more government services will be moved to the new platform in the coming months.

The new service will eventually replace the Government’s existing TradeXchange and TradeNet platforms. It aims to raise productivity by digitalising the paper trail, boost competitiveness by giving more accurate data analysis and create opportunities for the third-party service providers.

Finance Minister Heng Swee Keat, who launched the NTP at the Orchard Hotel on Wednesday, said the Government had sensed that more needed to be done with previous efforts in TradeNet and TradeXchange.

He noted that a single trade today can involve numerous parties and documents.

“Numerous digital solutions have sprung up around the world to address this. But, many of these function as either a purely regulatory or purely commercial platform,” he said.

“If we can stitch the disparate standalone systems or digital islands together, and bridge the government agencies and business community, the potential value to the economy is significant and transformational.”

First mentioned in Mr Heng’s 2016 Budget speech, the platform went live in December last year, with around 800 companies from various industries joining it to date.

Originally known as the National Trade Platform, it was renamed at the launch event attended by close to 700 industry representatives from the trade, logistics and the public sector.

The NTP was developed by the Singapore Customs and the Government Technology Agency of Singapore (GovTech) over four years, and supported by more than 20 ministries, government agencies and working groups.

Firms have to pay a monthly $40 fee to use the platform.

The Government had conducted discussions and workshops with more than 400 industry experts and 200 organisations, said Dr Tan Kim Siew, co-chair of the National Trade and Logistics Inter-Agency Steering Committee (NTLSC).

Many participants highlighted the industry’s paper-based processes, which require time-consuming manual data entry. Coordination with multiple business partners, including banking, insurance and logistics services, also led some traders to develop expensive proprietary digital systems.

“The NTP must help to achieve paperless trade and greater operational efficiency for our traders. Traders must be able to transact digitally with all their partners,” said Dr Tan.

The digital platform can also enable cross-border trade linkages through technology.

Mr Heng said the Singapore Customs is currently in discussion with China on linking the trading systems of both nations, and the Netherlands on trade regulatory processes.

Asean member states are also looking into extending its Asean Single Window initiative to transmit more trade documents, achieving greater economic integration and expand intra-Asean and intra-Asia trade, said Mr Heng.

Building on the NTP’s capabilities, one workgroup is also developing a digital information exchange project to speed up agricultural trade by removing the requirement for traders to print hardcopy certificates, he added.

The NTP can be found at www.ntp.gov.sg.

 

This article was contributed by The Straits Times.

Enterprise Singapore – Borrower Event

Minterest participated in an event held by Enterprise Singapore earlier today from 9am to 12pm. The event covered various topics, such as preparing your SME for debt financing, alternative SME financing, etc.

Not just that, there were also many chances for networking. We were delighted to be able to interact with the attendees during the tea break and Q&A session. The Minterest team enjoyed our time there as we were able share our knowledge and thoughts with one another.

  

If you missed out on this event or have any other queries, fret not – just drop us an email at [email protected]

More opportunities for SMEs as Singapore Government reveals multi-billion-dollar IT spending plan

Small- and medium-sized enterprises were awarded about one-third of the S$2.4 billion in ICT tenders awarded by the Government in Financial Year 2017.

There are opportunities for small- and medium-sized enterprises (SMEs) in Singapore to be had as the Singapore Government revealed a S$2.4 billion to S$2.6 billion IT spending budget for the new financial year.According to the Government Technology Agency’s (GovTech) press release on Thursday (Jun 7), these SMEs accounted for almost two-thirds of the total number of ICT contracts awarded by the Government in Financial Year 2017. In dollar value, they were awarded about S$800 million of the S$2.4 billion set aside for that period.

Of the forecasted budget, 33 per cent will go towards keeping the lights on for existing IT systems such as a PC bulk tender for leasing of personal computers and buying of printers, GovTech said.There will also be a bulk tender to qualify a panel of companies to provide resources to support co-sourcing of projects with GovTech.The bulk of the budget, or 44 per cent, will go towards supporting transformation projects such as the National Digital Identity system as well as smaller scale projects like the Singapore Tourism Board’s Singapore Visitor Centre system. The latter empowers frontline officers with visitor information and services and the ability to provide tourists with tailored recommendation, GovTech said.Another 23 per cent will go towards growing the ecosystem, such as through a bulk tender for robotic process automation. This tender will support the implementation of such automated processes in Government agencies via a panel of companies qualified to provide the software tools and professional services needed, the agency explained.The plans were revealed just days after Deputy Prime Minister Teo Chee Hean launched the Digital Government Blueprint that, among other things, spelt out the key performance indicators public agencies should work towards to in the next five years.Some of the initiatives include having electronic payment and digital signature options for all digital services provided by the Government.

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Minterest included in full lists of Finalists for the 2018 Benzinga Global Fintech Awards

Benzinga, the leading digital financial media publication and data provider, announced today that over 200 finalists will be competing in nearly 30 categories at the 2018 Benzinga Global Fintech Awards. Minterest is 1 of the 9 finalists for the Best Lending Platform.

The BZ Awards competition recognizes the most innovative companies in every fintech vertical. Finalists and winners are determined by a panel of judges made up of industry experts from firms like Google, D.E. Shaw, CNBC, Fidelity, DRW, J.P. Morgan and more. Winners of the BZ Awards competition will be announced at the Benzinga Global Fintech Awards Gala on May 15, and the overall first, second and third place winners will speak on a “Winner’s Circle Town Hall” panel the morning of May 16.

 

The full list of finalists includes:

Best Alternative Investments Platform CAIS Group
Best Alternative Investments Platform EquityZen
Best Alternative Investments Platform Fundbase
Best Alternative Investments Platform Fundrise
Best Alternative Investments Platform Groundfloor
Best Alternative Investments Platform Livestock Wealth
Best Alternative Investments Platform Mercury Capital Advisors – iFunds
Best Alternative Investments Platform PeerStreet
Best Alternative Investments Platform Rally Rd.
Best Alternative Investments Platform RealtyMogul
Best Alternative Investments Platform Republic
Best Alternative Investments Platform Swaper
Best Alternative Investments Platform YieldStreet
Best Analysis or Research Platform Albridge
Best Analysis or Research Platform Cashforce
Best Analysis or Research Platform Elsen, Inc.
Best Analysis or Research Platform finbox.io
Best Analysis or Research Platform Omega Point
Best Analysis or Research Platform RiskVal Financial Solutions, L
Best Analysis or Research Platform SharingAlpha
Best Analysis or Research Platform StatPro
Best Analysis or Research Platform StockViews
Best Analysis or Research Platform Street Diligence
Best Analysis or Research Platform TradingView
Best Analysis or Research Platform YCHARTS
Best Analysis or Research Platform Vistalytics
Best Analysis or Research Platform SavaNet
Best B2B Commerce Platform DebtBench Fintech
Best B2B Commerce Platform MeaWallet
Best Biometrics Tool or Cyber Security Platform BIOWATCH SA
Best Biometrics Tool or Cyber Security Platform Crypta Labs LTD.
Best Biometrics Tool or Cyber Security Platform Emailage
Best Biometrics Tool or Cyber Security Platform ProxToMe
Best Biometrics Tool or Cyber Security Platform Yoti
Best Customer Engagement Tool or Campaign Asset-Map
Best Customer Engagement Tool or Campaign CUneXus Solutions
Best Customer Engagement Tool or Campaign Finworx360
Best Customer Engagement Tool or Campaign LiveOak Technologies
Best Customer Engagement Tool or Campaign SwipeSum, Inc.
Best Customer Engagement Tool or Campaign Totum Risk, LLC
Best Customer Engagement Tool or Campaign YayPay
Best Digital Bank Chime
Best Digital Bank Lively
Best Digital Bank Oxygen
Best Digital Bank TNG FinTech Group
Best Digital Mortgage Solution Better Mortgage
Best Digital Mortgage Solution Neat Capital
Best Digital Mortgage Solution Cloudvirga
Best Digital Mortgage Solution LoanFuel
Best Digital Mortgage Solution Lenda
Best Educational or Personal Finance Platform Ask a Lender
Best Educational or Personal Finance Platform Echofin LLC
Best Educational or Personal Finance Platform FinTank
Best Educational or Personal Finance Platform Fluo
Best Educational or Personal Finance Platform Gimi AB
Best Educational or Personal Finance Platform Honeyfi
Best Educational or Personal Finance Platform Invest Diva
Best Educational or Personal Finance Platform IonTuition
Best Educational or Personal Finance Platform Kapitall
Best Educational or Personal Finance Platform Online Trading Academy
Best Educational or Personal Finance Platform Questis, Inc.
Best Educational or Personal Finance Platform Rubicoin
Best Educational or Personal Finance Platform SmartAsset
Best Educational or Personal Finance Platform Tuition.io
Best Educational or Personal Finance Platform Uniko
Best Educational or Personal Finance Platform Warrior Trading
Best Financial Advisor or Wealth Management Platform AdvisorBid
Best Financial Advisor or Wealth Management Platform Brinker Capital – RIA Services
Best Financial Advisor or Wealth Management Platform BrokerHunter
Best Financial Advisor or Wealth Management Platform Envestnet
Best Financial Advisor or Wealth Management Platform InvestCloud Navy
Best Financial Advisor or Wealth Management Platform ITECHFLOCK SOFTWARE PRIVATE LIMITED
Best Financial Advisor or Wealth Management Platform laserfiche
Best Financial Advisor or Wealth Management Platform Minna Technologies
Best Financial Advisor or Wealth Management Platform MyVest
Best Financial Advisor or Wealth Management Platform OpenInvest
Best Financial Advisor or Wealth Management Platform Orion Advisor
Best Financial Advisor or Wealth Management Platform RBC Correspondent & Advisor Services
Best Financial Advisor or Wealth Management Platform Redtail Speak
Best Financial Advisor or Wealth Management Platform Riskalyze
Best Financial Advisor or Wealth Management Platform Sharesight
Best Financial Advisor or Wealth Management Platform Vestwell
Best Forex Platform Fortex, Inc.
Best Forex Platform FXStreet
Best Forex Platform MarketFactory
Best Forex Platform Mount Wish
Best Forex Platform Send Money Home
Best Forex Platform Tradagon
Best InsurTech Solution Aclaimant
Best InsurTech Solution allai
Best InsurTech Solution Coverhero
Best InsurTech Solution Exdion Solutions
Best InsurTech Solution Hellas Direct
Best InsurTech Solution Insurify
Best InsurTech Solution Life.io
Best InsurTech Solution Lumity, Inc.
Best InsurTech Solution Matic
Best InsurTech Solution Protecht Inc, dba TicketGuardian
Best InsurTech Solution Snapsheet
Best InsurTech Solution Sureify
Best Lending Platform 4G Capital
Best Lending Platform ACORN OakNorth
Best Lending Platform Credibility Capital Inc.
Best Lending Platform Credibly
Best Lending Platform Creditor.ai
Best Lending Platform ftcash
Best Lending Platform Kasasa
Best Lending Platform Lendio
Best Lending Platform Minterest Private Limited
Best Procurement or Supply Chain Solution 14bis Supply Tracking
Best Procurement or Supply Chain Solution Accrualify, Inc.
Best Procurement or Supply Chain Solution Candex, Inc.
Best Procurement or Supply Chain Solution Yapta
Best Proprietary Platform or API Accern
Best Proprietary Platform or API AlphaPoint
Best Proprietary Platform or API Apex Clearing
Best Proprietary Platform or API Difitek
Best Proprietary Platform or API Everysk Technologies
Best Proprietary Platform or API Finicity
Best Proprietary Platform or API FinLink, Inc. d/b/a Mbanq
Best Proprietary Platform or API FinMason
Best Proprietary Platform or API Instantor
Best Proprietary Platform or API ipushpull
Best Proprietary Platform or API Modo
Best Proprietary Platform or API Redtail Technology
Best Proprietary Platform or API RUBIQUE
Best Proprietary Platform or API SDK.finance
Best Proprietary Platform or API Singular Banking
Best Proprietary Platform or API TransFICC
Best Proprietary Platform or APIs VSoft Corporation; platform: Arya
Best Real Estate Platform CrowdStreet
Best Real Estate Platform Income&
Best Real Estate Platform RealtyShares
Best Real Estate Platform Roofstock
Best RegTech Solution 8OF9
Best RegTech Solution AQ Metrics
Best RegTech Solution BigID
Best RegTech Solution Checkbox
Best RegTech Solution ClauseMatch
Best RegTech Solution ComplySci
Best RegTech Solution iComply Investor Services Inc.
Best RegTech Solution Jumio
Best RegTech Solution Neuroprofiler
Best RegTech Solution Onfido
Best RegTech Solution PerformLine
Best RegTech Solution Sum&Substance
Best RegTech Solution Thesys Technologies
Best RegTech Solution Thisisme
Best RegTech Solution Trulioo
Best RegTech Solution Trunomi
Best RegTech Solution Vena Solutions
Best Robo-advisor Bambu
Best Robo-advisor Betterment
Best Robo-advisor Gravity Investments
Best Robo-advisor LendingRobot
Best Robo-advisor Magnetis
Best Robo-advisor Moneyfarm
Best Robo-advisor Munnypot
Best Robo-advisor Polaris Portfolios
Best Robo-advisor Wealthfront
Best Robo-advisor WiseBanyan
Best Trading Execution Platform or Brokerage Capital.Com
Best Trading Execution Platform or Brokerage Clearpool Group
Best Trading Execution Platform or Brokerage Entrex
Best Trading Execution Platform or Brokerage Envision Financial Systems
Best Trading Execution Platform or Brokerage Jellifin
Best Trading Execution Platform or Brokerage Trumid Financial
Best Trading Idea Platform Capital Market Laboratories
Best Trading Idea Platform Fortuitapps Limited UK
Best Trading Idea Platform StockHoot LLC
Best Under-banked or Emerging Market Solution Airfox
Best Under-banked or Emerging Market Solution Braviant Holdings
Best Under-banked or Emerging Market Solution CreditStacks
Best Under-banked or Emerging Market Solution Elevate Credit
Best Under-banked or Emerging Market Solution Experian MicroAnalytics
Best Under-banked or Emerging Market Solution Finn.ai
Best Under-banked or Emerging Market Solution Humaniq
Best Under-banked or Emerging Market Solution ID Finance
Best Under-banked or Emerging Market Solution LenddoEFL
Best Under-banked or Emerging Market Solution MoneyLion
Best Under-banked or Emerging Market Solution Oakam
Best Under-banked or Emerging Market Solution Self Lender, Inc.
Best Under-banked or Emerging Market Solution Teller
Best Use of AI or Machine Learning AppZen
Best Use of AI or Machine Learning bkper
Best Use of AI or Machine Learning Bondit
Best Use of AI or Machine Learning City Falcon Limited
Best Use of AI or Machine Learning Clerk.ai
Best Use of AI or Machine Learning Clutch.AI
Best Use of AI or Machine Learning Endor Software Ltd
Best Use of AI or Machine Learning JD Finance
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Finding Alpha Through Alternative Data Croudify
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Institutional Innovators AutoGravity Corporation
Institutional Innovators Laurel Road
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Institutional Innovators Pri-Num Ltd.
Institutional Innovators USAA
Institutional Innovators West Loop Ventures
Institutional Innovators Zenmonics
Investing in Millennials Aspiration
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Leveling the Playing Field AtomInvest
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This article was contributed by Benzinga

Warning Signs That You’re Headed Towards Bankruptcy

Have you ever feared going bankrupt? Or you’ve saved and invested so well that this thought doesn’t bother you at all? Read on to see if you need to worry or not.

We have seen so many celebrities go bankrupt that it’s no longer an alien term for us. Do you think there’s a way to predict a possible bankruptcy? Well, there might not be a definite formula for calculating stuff and deciding whether you should be worried or not, but there sure are some warning signs you need to watch out for. If you see any of these, you need to change a lot of things about the way you save and invest. And in case you don’t save or invest at all, you need to be worried, friend!

As the word suggests, bankruptcy is a situation when you have absolutely no money left in any of your bank accounts (or under your pillow). Now you know why we keep encouraging you to save and invest in the right places, don’t you? To help you further, here’s a list of warning signs you need to watch out for. In case you see any of these, you need to worry! Unless you make some major changes in the way you manage your finances, you might just go bankrupt!

Here are the signs:

  • Savings? What’s that?

No matter how hard you try to build a bank for a bad financial phase, you just can’t seem to save enough. Even before the money comes in, you have a long and extensive list of things to spend it on. You take savings way too lightly and believe in relying only on your Credit Card for a rainy day. It’s important to start planning your money early so that you have enough reserves to rely on for your retirement. Don’t wait for that dream job to turn into reality. Start now! If you’re not sure about where to invest, at least start by opening an RD (Recurring Deposit). Consult a financial expert for more help on the right investment options for you.

  • Missing payments? Who cares!

Not just your Credit Card payments, you can’t seem to make any of the other payments on time either. These include the basics like your electricity bill, telephone bill, etc. Sometimes you do it because you’ve developed this casual attitude towards it and other times, you’re just lazy or broke! Start managing your monthly budget and ensure that you make a note of all transactions. Being more aware of your current financial situation is the only way to predict your financial future. If you don’t have enough money left towards the end of the month, that’s one of the biggest signs that you might be headed towards bankruptcy.

  • Debt debt, everywhere!

You’ve a huge pile of debt to repay and you can’t seem to figure out ways of doing that. This debt could be a loan or some money you borrowed from a friend. Borrowing money from your friends or relatives is okay as long as you keep a track of it. If you let it grow, you’ll end up in a huge pile of debt without even realising it. We’re sure you don’t want to do that. Debts are the basic cause of bankruptcy. Be smart about the money you borrow and keep in mind ways of paying it back.

  • Curtailments and some more curtailments!

Just to get enough money to repay your debts, you often ignore the voice of your heart. No matter how much you love shopping, you just can’t shop because you’ve to use that money for paying people back. You never get a chance to pamper yourself and that gets quite frustrating sometimes. But you know that since you don’t have any other reserves to pay off your debts, you need to compromise on your wishes. Curbing your wishes is good when you have a habit of splurging on useless things that are super expensive; but you should be in a position to pamper yourself, every now and then.

  • Tring, tring! Your phone loves to ring!

Getting too many phone calls is okay as long as you like the person on the other side of the line. But if you keep getting calls from your debt collectors, that’s obviously not a good sign. This is the biggest warning sign that you’re almost about to go bankrupt. Instead of giving them innovative excuses, try looking for a real solution. Speak to a financial expert and let them guide you.

  • Your Credit Card balance is about to hit the roof!

You’ve got your Credit Card balance increased beyond allowable limits, and now you don’t know how to go back! The main reason for this is your careless usage. You keep swiping your card for every minute thing like groceries and that’s precisely what has caused this issue! It’s a bad sign because if you keep using your Credit Card, it just means that you don’t have enough cash handy. Living on credit is not the right thing to do. You need to try and survive without overusing your Credit Card. Once you learn that, you might be able to avoid bankruptcy.

  • Financial emergency! Not once, twice!

If you’ve been struck by a financial emergency more than once, that’s just a small warning before the actual storm. We all go through such an emergency once, but if it’s happened more than once, you need to worry! The primary reason you had to go through the same situation again is that you don’t have an emergency fund. An important part of getting your savings right is developing an emergency fund and keeping it handy for such bad situations. If you’ve been through financial emergencies a couple of times, you really need to watch out! The next financial emergency might not give you a chance to recover; you’ll just go bankrupt. We’re sure you don’t want that, do you?

So? What do these warning signs tell you about your spending habits? Are you safe or headed towards bankruptcy? Whatever the situation, you still have time to recover before the actual catastrophe strikes! Make the most of this time and these warnings. Improve your spending habits and don’t let your casual attitude towards money damage things for you.

This article was written by Shrutika Vaishnavi.

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