London FinTech

MasterCard
Using its sponsorship of golfing tournaments to test out payments and wearable technologies. This has included providing Virtual Reality (VR) experiences at these events where users are able to purchase items of interest such as shirts, golf clubs during the VR experience .

Additionally Mastercard has confirmed it will accept selfie photos and fingerprints as an alternative to passwords when verifying IDs for online payments. “92% of its test subjects preferred the new system to passwords.” And that “biometric checks had the potential to cut fraud”.

Number26
Mentioned as an inspiration by a number of UK, Fintech start-ups (companies looking to get their banking licence in 2016)
German start up bank, leveraging Master Card which allows you to open your bank account vie video identification in 8 minutes.
• Additionally send money to contacts vie text message or email.
• Users master cards network to access ATMs worldwide free of change.
• Real-time push notifications on all transactions through your bank account.

Fidor Bank
UK Fintech start up, leveraging the Master card debit cards.
• Interest based on number of Facebook Likes
• Send money to friends vie email address or mobile number.

Mondo
UK Fintech start up Alpha and Beta launches.
• Goal to become a bank in 2016.
• Honest about what didn’t work in 2015 Alpha launch, made changes based on the feedback into its 2016Beta launch.
• Integrated algorithms and emoji’s e.g. Dunkin donuts connected to the donut emoji on your online spend details, Nado’s the chicken emoji.
• When you lose or have your card stolen, your card “freezes up”  (the picture of your card in the App actually freezers over and your left with a picture of ice.)

Secco Bank
Vision for its customers to become 'data brokers' – treating their data as a currency to spend, lend and invest.
Plan to use cryptographic keys where both secco and the user's keys will be required to confirm a transaction.
Using a distributed database model, similar to blockchain, where the data of the bank is spread across
everybody's phone. So owned by everybody and nobody.

Drive now was raved about and shown as an example of great user experience and just making things work. Drive now is a hire car service similar to Zip car, which is owned by BMW. The User just taps’ there memberhips (once they have already signed up) and they can just go. No insurance or monthly fees and no petrol costs. Park anywhere within the Zone’s, where you can park a car. Fords Go Drive is a cheaper option but unlike BMWs drive now has set parking spaces.