Large banking companies are undergoing checks. They need to face an economical slowdown in key countries like Brazil, China and Russia. The land in crude essential oil prices and the reduced interest rate program made their performance even heavier. The brand worth or brands of the big finance institutions are slowly starting to shrink. Overall, the most notable 10 "MOST EFFECTIVE Global Brands 2016" variants of BrandZ for the global bank sector. The full total value of the brand for the most notable 10 has reduced by 11 percent. The drop was higher than previous year's minus 2 percent. From the most notable 10, only Spanish bankers BBVA experienced a rise in brand value .
1. HSBC: $ 20,276 billion (-16%)
2. Citi: $ 17.055 billion (-2%)
3. JP Morgan: $ 11,943 billion (-12%)
4. ING Loan company: $ 10,340 billion (-11%)
5. Santander: $ 9,797 billion (-20%)
6. BBVA : $ 9,148 billion (5%)
7. Barclays: $ 7,509 billion (-15%)
8. Goldman Sachs: $ 7,462 billion (-10%)
9. Morgan Stanley: $ 7,304 billion (-12%)
10. UBS: $ 7,304 billion (-12%) 10. UBS: $ 6,991 billion (- 12%)
Many factors have induced the global bank's brand value to keep to shrink. One of these is the occurrence of Fintech companies, which provide transactional services such as repayments. On the main one hand, these banking companies are poor to respond because they're hampered by licensing and regulatory issues. Not just that, there is also other business development priorities that are believed to add greatly with their growth.
Fintech is currently experiencing fast development. In the wonderful world of technology that is very glorifying the simple gain access to, Fintech provides choice banking trades that are easy, fast. Fintech quickly been successful in taking the hearts of the millennials.
Fintech in Indonesia
In Indonesia, there are very a number of folks who look into this fintech. One of these is Abraham Viktor who founded Wedlite under the umbrella of PT Indonusa Bara Sejahtera.
Wedlite provides lending options to prospects who desire a wedding payment but don't have enough personal savings. As a person under age 30, Bram is aware of perfectly how engaged and getting married is expensive so most are compelled to postpone matrimony due to a cost collision.
Just like a business that provides lending options, Bram certainly pays off interest. However the numbers aren't large, starting at 0.99 percent monthly. This interest is quite competitive with standard bank interest for short term loans (KTA). Some KTAs even offer interest above 1 percent monthly.
To obtain a wedding financing center from Wedlite, possible customers can sign-up themselves immediately through the state website of Wedlite. Several data must be stuffed in, like the amount of funding submitted.
The info is then refined for two days and nights to find the application's answer received or turned down. If accepted, the client must complete owner data. Wedlite will immediately make obligations to sellers, not customers.
In conditions of financing, Bram depends on two boat loan companies which may have been on the currency markets. A couple of no special ties, Wedlite can create co-operation with other boat loan companies, or despite having banks.
A season later, the funding business monitored by Bram and his friends not only included wedding ceremonies, but also home renovations, real estate lending options, education, childbirth, vacations and umrah, mechanized vehicles, to loans. He also altered his name, from Wedlite to Taralite.
The Financial Services Power (OJK) said there have been at least 20 fintech start-ups in Indonesia. A few of them are called uangteman.com, cekaja.com, bareksa.com, doku finances, and so many more. There are those who find themselves engaged in financing, there are those who sell shared money, some also become insurance agents.
Fighted by fintech start-ups that are progressively more mushrooming, OJK also explained its readiness to handle security functions. Capital requirements may also be set. This is really with regard to guarding consumers and the financial industry itself.
The Chief Exec of the Non-Bank Financial Industry Supervisor, Firdaus Djaelani, said that his get together would make the guidelines light enough so that fintech businesses would sign-up their companies with the OJK.
"With technology, the start-up start-up has turned into a kind of insurance professional, providing credit as well, we can not prohibit this since it actually improves the financial industry," Firdaus said just lately. He said, OJK would encourage fintech to increase, but nonetheless with the guidelines of the overall game.
Bank reaction
Life.SREDA, a capital raising that targets channeling investment in fintech, has noted the worthiness of assets in the Fintech Asia sector in 2011 to 2015. Investment expansion in fintech in Asia in the period of that season come to 2,141 percent. In 2011, the investment value was only $ 0.29 billion. In 2015 the shape jumped to $ 6.5 billion, it was the best bounce, because in 2014 the investment only handled $ 1.5 billion.