Tag Archives: Finance

This is the Future of Finance

Posted by Roy Glasberg, Head of Launchpad

Launchpad's mission is to accelerate innovation and to help startups build world-class technologies by leveraging the best of Google - its people, network, research, and technology.

In September 2018, the Launchpad team welcomed ten of the world's leading FinTech startups to join their accelerator program, helping them fast-track their application of advanced technology. Today, March 15th, we will see this cohort graduate from the program at the Launchpad team's inaugural event - The Future of Finance - a global discussion on the impact of applied ML/AI on the finance industry. These startups are ensuring that everyone has relevant insights at their fingertips and that all people, no matter where they are, have access to equitable money, banking, loans, and marketplaces.

Tune into the event from wherever you are via the livestream link

The Graduating Class of Launchpad FinTech Accelerator San Francisco'19

  • Alchemy (USA), bridging blockchain and the real world
  • Axinan (Singapore), providing smart insurance for the digital economy
  • Aye Finance (India), transforming financing in India
  • Celo (USA), increasing financial inclusion through a mobile-first cryptocurrency
  • Frontier Car Group (Germany), investing in the transformation of used-car marketplaces
  • GO-JEK (Indonesia), improving the welfare and livelihoods of informal sectors
  • GuiaBolso (Brazil), improving the financial lives of Brazilians
  • JUMO (South Africa), creating a transparent, fair money marketplace for mobile users to access loans
  • m.Paani (India), (em)powering local retailers and the next billion users in India
  • Starling Bank (UK), improving financial health with a 100% mobile-only bank

Since joining the accelerator, these startups have made great strides and are going from strength to strength. Some recent announcements from this cohort include:

  • JUMO have announced the launch of Opportunity Co, a 500M fund for credit where all the profits go back to the customers.
  • The team at Aye Finance have just closed $30m in Series D equity round.
  • Starling Bank has provided 150 new jobs in Southampton and have received a £100m grant from a fund aimed at increasing competition and innovation in the British banking sector, and also a £75m fundraise.
  • GuiaBolso ran a campaign to pay the bills of some its users (the beginning of the year in Brazil is a time of high expenses and debts) and is having a significant impact on credit with 80% of cases seeing interest rates on loans being cheaper than traditional banks.

We look forward to following the success of all our participating founders as they continue to make a significant impact on the global economy.

Want to know more about the Launchpad Accelerator? Visit our site, stay updated on developments and future opportunities by subscribing to the Google Developers newsletter and visit The Launchpad Blog.

Tips for building high-quality and accessible financial services apps

Posted by Joel Newman & Ashraf Hassan, Strategic Partnerships, Finance, Google Play

Millions of people around the globe have limited or no access to basic financial services to enable them to manage their day-to-day finances. Mobile technology can help bridge this gap by connecting historically underserved consumers with high-quality tools to help them improve their financial health.

Often faced with an uncertain regulatory environment and/or a highly fragmented financial marketplace, many developers struggle with building great app experiences while also navigating this complex financial space. That's why we recently worked with CFSI, the authority on consumer financial health, to create the FinTech App Development Compass, a six-step guide for building high quality mobile apps to make financial services more accessible on Google Play.

Below, we're sharing six tips to consider when building a financial services app. For more, read the complete FinTech App Development Compass.

Tip 1: Know Your User
Understand who your consumer is and what difference your product can make in their day-to-day life. What are their financial needs? How can your product improve their financial health? How does your product fit within the context of their financial lives?

Tip 2: Focus on Access
Responsibly expand access to your product. Consider how your product can fit seamlessly into your users' routines. Consider your users' circumstances, including that English may not be their first language and that they may be using older devices with limited data plans.

Tip 3: Establish and Maintain Trust
Trust is at a premium in the financial space. Make sure you are developing mutually beneficial financial solutions that deliver clear and consistent value. Similarly, make sure you are using the latest security tools available from the Android platform to secure your users' data.

Tip 4: Test and Iterate
Before releasing any product to the public, make sure it has been thoroughly tested. From a financial perspective, be sure to measure the actual impact of your product on users over time. From a technological perspective, be sure to leverage Google Play alpha and beta channels for distributing apps before their public release.

Tip 5: Drive Positive User Behavior
Drive positive consumer behavior through smart design and communication. Leverage the Android platform tools like Material Design and notifications to steer users toward positive action or take financial action at appropriate times.

Tip 6: Recognize the Value of Mutual Success
Remember that the best business models are win-win: If your users' financial health improves, your company profits. Consider embedding financial impact and technological tracking capabilities within your platform from the beginning.

For additional information, refer to the CFSI Compass Principles and get the Playbook for Developers app to stay up-to-date with more features and best practices that will help you grow a successful business on Google Play.


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