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New firm bringing fintech to pubs

Edinburgh start-up pour launched with venues across Scotland in August, their aim; to simplify the cluttered order and pay market that Covid-19 helped create.

Amidst the rapid technology adoption in the hospitality industry, consumer’s needs are being ignored. Patrons are expected to download venue specific apps and create accounts for every place that they visit, something they will not tolerate in the long run.

 

What is Pour?

Founded by Scottish entrepreneurs Ian Martin and Paul Kirkland, Pour is an online app platform that enables venues to upload and edit their menus, and share them directly with their customers across social media, their website, offline channels, and on pour.

Customers can order and pay through one web app, for table service or takeaway collection in any participating venue. No app download, no account required, just the food and drinks they came for.

 

Says Ian Martin, Co-Founder of pour:

“We started pour to simplify the consumer’s experience with online order & pay, bringing table & takeaway ordering together on to one platform that businesses of all sizes can afford to join. The platform makes the ordering process contact free, but it’s the reduction in administration time, increase in rate of sale, and access to a broad marketing platform where the true value of pour lies.”

 

Find out More

Find out more about the platform by visiting  https://www.pourit.co.uk or drop the team an email hello@pourit.co.uk

Why fintech Hubb Insure chose Glasgow

When we set about building our business one of the first questions we look at was the location, what was important to us?

Hubb firstly was a challenger to the commercial insurance space, built on modern management structures and a technology stack, built around flexibility and efficiency, our objectives where simple, cheaper more efficient solutions for our clients, happier more focused staff.

Homeworking was always going to be a major part of the mix, but we still needed a base for a head office and training, so we landed on London, Manchester or Glasgow.

London- The heart of the global insurance market, great public transport and connections all over the city, very expensive everything!

Manchester- Cheaper than London, two hours on the train from London, local public transport not so great.

Glasgow- Great flight links to London, good public transport, Scottish Enterprise are great to deal with.

 

When we had these discussions, it became clear that Glasgow was the perfect home for Hubb over and above the obvious, we have sourced local partners and found that the skill sets in sales, marketing and flexible office space in Glasgow a real positive.

How a fintech is helping people to receive affordable loans

The University of Edinburgh and Scottish fintech Inbest are collaborating on a research project that aims to address the challenge of accessing income benefits and affordable finance swiftly for those individuals who have suddenly been made financially vulnerable as a result of the current COVID-19 pandemic. The project has been awarded a Data-Driven Innovation Grant Innovation and also has the support of Scotcash and Advice Direct Scotland.

The project will propose a new credit assessment method that takes into account the amount of benefits that the applicant is entitled to receive and will suggest a repayment schedule based on the applicant’s timeframe of receiving the benefits and their expense behaviour. This method will help affordable lenders to make better short-term lending decisions for individuals who otherwise may fail to meet the standard credit risk models. The project will leverage on Inbest Benefits calculator and its banking analytics platform to calculate individuals’ benefits entitlement and financial situation.

The project came to light as a response to the priorities underlined by the Scottish Fintech Consumer Panel – an industry group set up by Fintech Scotland that aims to support inclusive fintech business development by connecting citizen advocate groups into the fintech ecosystem. The consumer panel played a fundamental part in the project proposal by defining the project scope and connecting the participants.

Raffaella Calabrese, Associate Professor at University of Edinburgh Business School, said:

“We are delighted to work on such a pressing issue for Scottish citizens as, in the last month, Scotland has seen 130,000 new applications for Universal Credit, compared with 20,000 the same time last year. Our objective is helping financially vulnerable customers to access cheaper sources of financing and improve their resilience to financial shocks. Customers’ credit capacity will be further enhanced as the lending assessment will also include the potential impact of financial recommendations such as their benefits entitlement”.

 

Manu Peleteiro, CEO of Inbest, said:

“This project is another great example of how Scottish institutions and companies are collaborating to develop data-driven solutions to improve financial inclusion. We are looking forward to sharing the lessons learned from this project on the Fintech Consumer Panel, raise awareness of financial vulnerability and drive new initiatives to improve design access and management of benefits and affordable loans”.

 

Nicola Anderson, Strategic Development Director at FinTech Scotland welcomed the initiative.

“This initiative demonstrates the real value of bringing citizen and consumer needs to the forefront of FinTech development. Using focused research and data analytics, the collaboration between Inbest, the consumer groups and the University of Edinburgh’s has helped develop an enterprise that can help people at a time of crisis and real need. It’s another great example of how inclusive innovation in financial services can deliver good outcomes for people and society”.

 

Upskill in the New Year with CodeClan’s Short Courses

Photo by Startup Stock Photos from Pexels

Whether you’re interested in adding to your skillset, or developing your team, short courses are an ideal way to quickly upskill and achieve your career goals. 

At CodeClan, we offer two to four-day short courses at our campuses in Edinburgh, Glasgow and Inverness. The subjects carefully chosen by our industry partners, students and alumni and developed by our instructors and other experts as sought-after skills required across industries. 

https://www.youtube.com/watch?v=pOejf28GEI8

Agile for Effective Teams is a two-day course on new strategies for implementing Agile ways of working across your team. Business and technical leaders will gain insight into the Agile mindset and Scrum (the main Agile framework) and how this can benefit business and projects. Product managers and decision makers will learn how adopting an Agile approach can increase flexibility and increased responsiveness to better meet the needs of your customers and business. Small and large development teams will learn how to work more efficiently as a team and to execute your development projects in an Agile way for greater innovation, flexibility and business satisfaction. 

Edinburgh | 30 January 

£1,000


If you or your team want to understand development teams and their practices, Understanding Software Development is a three-day course which will help people who interact and work with development teams to understand the development lifecycle and how best to work with a developer’s mindset. 

From wireframing tools to APIs and applications, you learn how the internet works and what software developers do and be taken through the stages of a software project to understand how developers work and the tools they use. 

By the end of this course you will be able to write a brief that developers will understand and you will have a better chance of accurate planning. Through easier and more productive communication, you’ll create stronger, more collaborative teams. 

Edinburgh | 3 February, 28 April

Glasgow | 24 February, 17 March

£1,000

Python is quickly coming one of the most sought-after languages. Whether you want to use it for data or development, Python is used in Fintech, business, finance, R&D, IoT and commerce. CodeClan’s four-day course, Python for Developers covers Python fundamentals, file handling, web programming and frameworks. Students will be able to build a simple web MVC app and understand Python 3.0 syntax. This course is tailored for programmers who already have experience with another language, ideally a scripting language and experience with object-oriented programming. 

Edinburgh | 20 April

Glasgow | 3 February, 9 March

£1,900

Get to grips with UX design concepts and methods ”“ from web accessibility and interface design to user testing and more on the three-day course UX Design Fundamentals. You’ll be introduced to UX design concepts and methods, including web accessibility, interface design and user testing. Whether a technical or non-technical professional, you’ll benefit from this opportunity to work through hands-on, practical examples and learn how to build solutions based on customer’s needs. 

Edinburgh | 10 February
Glasgow | 17 February 
£1,000

Following on from UX Design Fundamentals, UX Advanced is a two-day course explores methods of information architecture (IA) design and testing. Based on practical application, the course requires basic understanding of UX design principles. Join us to learn methods of information architecture (IA) design and testing, explore methods such as Jobs To Be Done in order to run successful requirement gathering sessions with your business stakeholders. Discover tips and tricks that will help you and your team communicate complex requirements. 

Edinburgh | 16 March 
£1,000

All CodeClan courses can be found here.

Discover Europe’s premier conference for credit scoring

It’s an exciting time to be working at the crossroads of finance and technology, helping businesses improve their customer journeys and making the most of new sources of data. 

Credit Scoring and Credit Control XVI, Europe’s premier conference for credit scoring and related topics, will see 400 delegates from over 40 countries converge on Edinburgh between 27 and 30 August. 

The lending market is changing more rapidly than ever before with rapid entry by lenders without branches, fintech startups with new services, open banking facilitating account moves as well as increasing regulations.

Every two years for the past 30 years, the conference has helped connect academics and practitioners. It is the agenda-setting forum for research and new methodologies for credit scoring and control, with talks covering a huge range of modelling issues such as machine learning, the use of new forms of alternative data, fraud prediction, interpretability of AI models, IFRS9, stress testing and SME risk modelling. Hear risk modellers opening their bonnet on their new developments and academics describing futuristic research that may set the agenda for the next decade.

Our previous event, in 2017, captured the mood of the time, with warnings that the growth in UK consumer debt had become a serious problem. Unsecured consumer credit had risen to £200bn for the first time since 2008. We heard fresh concerns about whether past models would be good into the future and naturally, concerns over Brexit. Two years on these worries still loom large!

I’m looking forward to hearing from our keynote speakers: Javier Frassetto, Chief Risk and Analytics Officer of LenddoEFL, leader in use of non-traditional data and identity verification; Diederick Potgieter, Risk Specialist at the Bank of England; and Paul Russell, Director of Analytics at Experian Consumer Services UK & Ireland. 

The discussions that take place in Edinburgh this August will have a ripple effect across industry and academia for months and years to come. 

Jonathan Crook
Director of Credit Research Centre,
Professor of Business Economics and Director of Research
University of Edinburgh Business School

Discover SDI’s Fintech Export Programme

If you’re a Scottish Fintech company with a great product or service offering and you have the drive, commitment and tenacity to expand into overseas markets you might want to sign up for Scottish Development International’s Fintech Export Programme, where you’ll be guided through both the essential, and advanced, requirements of doing international trade.

To help you succeed, they’ll guide you through producing a robust International Action Plan to drive your company’s growth in 2019 and beyond.

Over the course of the Programme they’ll cover all necessary topics to ensure you’re well-prepared to exploit new market opportunities and compete

on the international stage.

 

What’s in it for me?

  • Help and resource to develop your own international action plan to implement into your business
  • A step-by-step guide to develop insights into key topics such as:
    • Profiling International Clients
    • Understanding International Market Requirements
    • Identifying your Business Model / Route to Market
    • Developing an Export Plan
  • Plus, it’s the ideal setting to network with other like-minded Scottish businesses

 

What will I learn?

  • How to effectively research and exploit international opportunities
  • What market entry options are right for your business
  • Next steps for your business

 

Who’s it for?

If you’re a Fintech company (or a tech company with Financial Services customers) based in Scotland and you’re interested in growing internationally, then Export Workshop is a good place to get started. It’s fully funded and open to all businesses, except for intermediaries or suppliers of international trade services.

 

When and Where?

Tue 20th August 2019

Fintech Export Programme (click on link to register)

EDINBURGH – Scottish Enterprise, Apex 1, 99 Haymarket Terrace, Edinburgh, EH12 5HD

Time: 09:30 ”“ 17:00

You can also view these via www.scottish-enterprise.com/events. Scottish Enterprise’s Preparing to Export Programme is fully funded to Scottish companies and is part funded through the European Structural and Investment Funds (Investing in a Smart, Sustainable and Inclusive Future). You should note that this support is a form of state aid, and on attendance it will count towards your overall De Minimis allowance (Please see event page for a breakdown of De Minimis levels)

 

Discover Ellis Accelerator for expansion into the US

Ellis Accelerator is an equity-free three-month program designed to empower international startups as they expand to the US market and become global companies. We support international B2C and B2B startups by providing them with all the resources required to scale successfully in the US – including 150+ mentors, housing and office space in NYC, workshops, $350k benefits package, and access to an exclusive community.

The program begins once a startup is accepted – we work with them prior they arrive to NYC, helping them get their visas, set up their legal US entity, and refining their US go-to-market strategy. Thus, providing the participating startups the foundation necessary to focus on strategic initiatives and generating traction in the US once they arrive in NYC.

Upon arrival, startups go through a two-week bootcamp comprised of 15+ workshops to give them a thorough understanding of key concepts vital to scale successfully in the US. Our bootcamp is comprehensive and covers everything from pitch coaching, to building a US company, to sales and more.

Startups are paired with one or two lead mentors and have access to an additional 150+ specialist mentors. Our mentors and our team work with the participating startups 1:1 throughout the program to empower them to achieve their goals.

As part of the program, Ellis provides office space in SoHo, inclusive of free rooftop event space and conference rooms. Ellis is one of the only accelerators in the world providing furnished housing for the entire duration of the three-month program – allowing the startup founders to focus on running their company, instead of searching for accomodations.

While the program is three months long, once a startup is a part of the Ellis family, they are in it for life and will always have access to our community and our benefits package worth over $350K. The Ellis community consists of 150+ mentors, entrepreneurs and investors that will enable participants to scale dramatically faster.

As the Ellis program is equity-free, there is a participation fee which covers all program components. Third parties, including governmental, educational organizations and others, may sponsor participation.

 

Applications for the Fall 2019 cohort are open until July 15. Startups may apply here.

Additionally, we will be hosting the Ellis Accelerator Spring 2019 Demo Day at SAP Next-Gen in NYC on July 9th. This event will feature pitches fromEllis Accelerator‘s Spring 2019 cohort,Artboost,Bearaby, and DerButton. Register here and use code “EAS19” for a free ticket.If you are in New York at that time then we hope to see you there!

Introducing Sagecity IPS

SageCity’s Internal Payments System (IPS) is a financial infrastructure tool for enterprise. It allows for immutable tracking and management of a user’s assets and data but primarily focuses on financial balances.

The main benefit of this innovation is that by using sidechain technology on the SageCity network, enterprises can accurately distinguish users and their financial resources in a secure and low-cost manner. IPS works in conjunction with payment processors by tracking payments received into a user’s account and assigning them representative tokens for that payment.

With it, enterprises can:

  • Limit the involvement of payment processors;
  • Gather real-time analytics; and
  • Have a sidechain foundation that can be used to handle further processes in the future.

 

The Cryptocurrency Token

A token is deployed on the sidechain network and the tokens are held by the platform operator, ready for use. Tokens are divisible and can have their own value. Or, they be used to accurately represent a fiat currency, for example: £1 = 1 Token or £0.59 = 0.59 Token. Value can be enforced by the token operator as, in order for them to be circulating, they must have been paid for by a user. This allows an enterprise to maintain its own internal stablecoin. There are also opportunities to monetise elements of this solution for the enterprise.

 

Focusing on a Positive User Experience

On the intended platform, a user would proceed to the payment portal as expected. The user would input their card details, confirm, and approve the charge. That money is then facilitated by the payment processor and transferred from the user to the enterprise’s bank account. Once the transaction is successful, the platform operator issues a fiat equivalent in the token. This then sent to the user’s unique account and can then be used on the platform in their desired way.

When a user spends or sends those tokens, they choose their destination and hit a “Buy” or “Send” button. Once confirmation is received, tokens are sent to the desired destination.

In platforms in which redemption or “cashing out” happens, the tokens are sent to the platform operator and the equivalent in fiat is then sent from the enterprise bank account to the destination as requested by the user. The payment processor carries out this last step.

We believe that the blockchain revolution should be almost silent. Users should seamlessly carry out their usual activity and behaviours. They don’t need to know that they have adopted a form of cryptocurrency. Our goal with IPS was to make sure that the product doesn’t negatively impact the experience.

IPS has revenue benefits as an enterprise can allow users to have a “balance”. It can then introduce simple practices to get users to commit more in spending to the platform. Setting up a minimum deposit amount is an example of this.

 

What’s in It for Enterprise?

1. Operating Costs Reduction

SageCity’s IPS mechanism reduces the involvement that payment processors have over the handling of money. With one of our pilot companies, we calculated that we saved them around 80% in transaction fees.

2. Real-Time Analytics

By using a cryptocurrency token on a blockchain you automatically gain a standardised way to track and monitor all data circulating on the network. You can track user balances, exactly when, how much and to whom they are sending transactions. As a result, you can view and collate real-time reports.

3. Accurate and Secure Recordkeeping

Blockchain technology is immutable as all data is verified and encrypted when it gets added to a block. Sidechains also have an added layer of “backing up” with the main SageCity network. This means that it is near impossible for someone to manipulate balances or information and it eliminates key person risk.

4. No Downtime

As long as you have at least one node on the sidechain, the network will run 24/7/365 with little to no latency issues.

5. Scalable and Adaptable Infrastructure

While the IPS and SageCity blockchain technology is being used to manage financial balances, a blockchain can store any type of data. This means that we have extremely adaptable infrastructure. In the future, it can be used to handle extra functions and features.

 

Implementation

By the time this product is available to the public, a user will be able to input some custom information such as token name and Stripe API key. Then, the sidechain and token will be deployed. The user is given a program to run alongside the SageCity Wallet, some instructions, and code to insert into a few elements on their platform. The setup is incredibly straightforward.

To cover maintenance, the enterprise can purchase a small amount of SAGE from our company to pay monthly network fees.

 

Our Goal with the IPS

Over the last 3 months we’ve seen a clear demand for this type of system. This demand came mostly from innovative startups and SME’s. These have led us to design the product and roll out a small pilot program with 3 local Edinburgh companies.

We’re working closely with them to understand their needs and make sure our system is as accessible and beneficial as possible. So that when we release the solution globally on our SAGE store, the product can handle all kinds of usages.

We also see a natural progression of this system into the gaming industry. In 2017, $22 billion was generated in gaming micro-transactions. This is a figure that was no doubt hampered by payment processors and financial middlemen. We believe that indie game developers in particular will find this beneficial. IPS provides a way to reduce these fees by providing a framework to track and assign balances to users. That being said, IPS is an industry agnostic system and we would be happy to explore adaptations to suit other industries.

 

Interested in knowing more or want to explore using IPS within your enterprise? Drop the Sagecity team an email team@sagecity.ioto know more.

How Can Space Technologies Benefit the Development of Blockchain?

A new funding opportunity has recently become available to drive innovation in the development of blockchain through space technology.

The blockchain kick start activity scheme is searching for companies and organisations developing new technology to benefit blockchain in various sectors.

 

What’s So Important About Blockchain?

The development of blockchain technologies and applications has the potential to revolutionise wide-ranging sectors which affect our everyday lives.

The internet is being transformed into an internet of value, allowing people to exchange digital information and assets without the need for centralised structures such as banks and government agencies.

Digital assets include things as varied as currencies, identity information and property titles.  Through blockchain technologies, these can all be stored securely, in a far more transparent way than ever before. This could help prevent against fraud or hacks across all business transactions in the future.

The industries in which blockchain could have the biggest potential include:

  • Insurance: The digital storage of assets could eliminate the need for paperwork and make processes more streamlined.
  • Financial services: Blockchain has the potential to cut out middlemen and banks from transaction processes through satellite technologies. It could even become a platform in itself for the trade of goods and services.
  • Utilities: Distributed power grids run by IoT networks could decentralize the energy industry.
  • Supply Chain Management: Blockchain could enhance asset tracking for better security and trust between stakeholders.
  • Government institutions: Digitizing health records, tax systems and other documents could greatly improve efficiency within government institutions.

 

What’s Space Technology Got to Offer?

Space enabled technologies such as Satellite Communications, Satellite Navigation, Earth Observation and Human Space Flight Technology have a lot to offer the development of blockchain;

  • Satellite Communications (SatComs) can expand coverage for blockchain users in remote areas or areas lacking in terrestrial communication infrastructure.
  • Satellite Earth Observation (EO) could benefit the insurance sector through satellite imagery. For example, in the case of damage caused by flooding, satellite images could provide the evidence needed to speed up claims. It could also aid the supply chain management sector by providing detailed information on the location of valuable assets in real time.
  • Global Navigation Satellite Systems (GNSS) are essential for any blockchain application that relies on geographical referencing.

 

Keen to Apply?

Any business or organisation wishing to apply for the KickStart activity funding need to follow these steps:

  • Complete an online questionnaire found on the ESA-BA website
  • Download the invitation to tender from the site and set up a Bidder Restricted Area’
  • Produce a written proposal
  • Submit your proposal and supporting documents by 8thApril 2019

Successful applicants could receive up to €60,000 in funding to complete their project.

 

Funding Blockchain Innovation

This funding initiative is being driven by ESA business apps, providing expert support to businesses looking to utilise space enabled technology in the development of new commercial services.

To find out more about the types of funding and project management support available, visit the ESA-BA funding page.

Greetings from a new Scottish fintech

Blog by Adam Greenberg, founder of SageCity

Welcome to our first blog post and a big thank you to Fintech Scotland for inviting us into the community. We are an early stage business and have been really touched by the warm welcome we have received from everyone in the community when we attended the fintech fusion event on Thursday.

One of the most explosive growths in the fintech sector in recent years has been the emergence of cryptocurrency and blockchain technology. Our team have gravitated around the industry since 2013 and we’ve seen the technology evolve from initial Proof of work systems to smart contracting all the way through to DAG technology and mimble-wimble protocol (We didn’t make that last one up).

Blockchain technology is often heralded as the beginning of a new technological era and it has now reached a point where the stage is set for some good old-fashioned adoption. At SageCity, our focus is on bridging the gap between the technology and those who could truly benefit from it. Edinburgh has a vibrant and successful startup industry with some amazing ideas for the future and we’ve been fortunate enough to rub shoulders with a few and offer our support in their vision. Since our inception in August, we’ve been working with local Edinburgh based businesses who are facing challenges which are limiting their business potential by taking the time to listen and design blockchain solutions which are not only successful but efficient and sustainable for the future.

Blockchain had become a bit of a buzzword in recent times with a lot of loosely linked terms tossed around alongside it and that makes it difficult to decipher and comprehend. At its root, we like to think of blockchain as the swiss army knife of ledgers because of the multiple functions and purposes it can serve. Blockchain technology at its core has three key qualities which depending on the situation can offer a number of long and short term benefits to businesses, especially startups and those looking for a competitive edge.

 

It’s adaptable

Blockchains are system agnostic meaning they can be adapted and managed where and when required. Their primary function is often finance related but can equally be data or communications orientated. They can be the top dog running the show or compliment an existing system, be public or private and in some cases, both. The key advantage here is that unlike typical traditional solutions, blockchain technology is extremely flexible and can often be adapted and built upon with minimal difficulty.

 

It’s cheap to operate

In most cases, we can design systems where the only maintenance cost related to a blockchain is the electricity that the computer or server consumes to remain online. Also, depending on the business model, these costs could be cancelled out by the issuance of tokens as a “reward” for those running the blockchain and creating forms of circular economies within the overall business’ ecosystem.

 

Its reliable and secure

Blockchains come in many shapes and sizes but they are almost always designed to be peer to peer. This means that the network has no single point of failure which can be crucial for modern businesses. The nature of peer to peer makes sure that the integrity of the data stored within is virtually untamperable and that content is also heavily encrypted making the blockchain an ideal candidate to be reliable and secure.

Our long term vision is to be able to provide tailored blockchain solutions to startups and businesses around the globe and make deployment a quick and hassle free experience. We’ve got some interesting concepts in the works which we are looking forward to sharing soon which will not only be useful for our endeavours but could be utilised by other Fintech companies who offer industry leading products and solutions.

Hopefully you’ve found this introduction into SageCity and blockchain interesting and hopefully even enjoyable. We are proud to be part of the Scottish Fintech community and looking forward to sharing our journey and helping others on theirs too. We love talking blockchain so if you have any questions you want to bounce off us we’d be happy to help at team@sagecity.ioand sure to follow us on twitter @teamsagecity to stay in the loop.