Tag: FinTech

2017 has been a great year for Kathryn Petralia. In the past twelve months, Kabbage, the financial services and small loan company she co-founded with Rob Frohwein nine years ago, raised $250 million from Softbank.

Assigning credit risk to people who apply for business loans, credit cards, and home mortgages has mostly been done by weighing some 10 or 20 attributes. Take those attributes—and we’re all familiar with some of the things that make our credit scores rise and fall, including timeliness of payments, debt to income ratio, and defaults—and crank them through your favorite logistic regression model or scorecard. The result is your assigned credit risk, and depending on the number, you either get your loan or you don’t.

Regulators are people too. That’s what Monika Liikamaa, CEO of Enfuce Financial Services, wants to remind other founders who complain about meeting the strict standards of financial services regulators. “You have to be able to understand their concerns,” she says. “People are people, and they just want to feel secure that if they give a person a ‘go,’ the person they say okay to knows what they’re doing.” With Enfuce, the first infrastructure payments platform to run banks and financial institutions in a public cloud, Liikamaa’s solution to navigating the compliance process is doing her homework. For more from Liikamaa, including how she decides what features Enfuce should build and how she sees the banking industry evolving, listen here.

The concept of “banking on the go” was the topic du jour last week at a FinTech panel discussion hosted by AWS’s London Pop-up Loft.

This week in AWS Startup Stories* we talked to Anne Boden, CEO and founder of Starling Bank – the new UK mobile-only current account built from scratch in the AWS Cloud. (If you are curious to learn more about their architecture, check out the latest video part of the series This is My Architecture, where […]

From Bad Credit to Linear Algebra on a 10M x 10M Dense Matrix