Social Finance Technologies

Hi Socializes,

We are happy to invite you to the upcoming MeetUp on Social Finance Technologies, Monday December 30.

Finance is currently re-defined. New technology is disrupting the financial world in every aspect - Banking, Payments, Trading, Brokerage, Investment, Money Management, Funding, E-Commerce and much more. This fundamental change is accelerated by the opportunities that the social dimension is presenting to financial technology. Empowering financial institutions, service providers, communities and clients is the promise of social aspects to this multi-billion dollar market. We are already seeing banks making major progress by leveraging new technologies and social assets, together with startups that are designing new financial markets, connecting a 500 years banking model to new technologies and opportunities of the 21th century. In a few years innovation will completely impact the financial world and social aspects will play a major role in this transformation.

This upcoming Social FinTech meetup is designed to connect new and innovative financial technologies, financial institution and social ecosystem experts. This meetup features financial technology entrepreneurs as speakers alongside managers from leading financial institution to discuss key financial technology opportunities, needs, applications and innovations.

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Agenda and Speakers:

18:00-18:30 Networking

18:30-18:45 Keren Litani - Opening

18:45-19:10 Yigal Alkaslasy, eLoan's Chairman and Co-founder - Co Founder of TFS Israel (Brokers) a part of the Tradition group (http://www.traditiongroup.com/). 15 years of experience in the global financial markets.

Most of us have either a deposit or a loan. Banks, as a classic financial intermediary, offers an unreasonable spread between lenders and borrowers - in Israel ~8% (!). Credit cards and credit companies offers an even higher spread, which results in a very high interest rate for the borrower. Imagine that lenders could lend directly to borrowers, through a modern, smart and lean financial intermediary. It could totally change the way that we borrow and lend money…

eLoan (http://www.eloan.co.il/) is a peer to peer lending platform, based upon a unique blend of finance, credit underwriting, technology and crowdfunding experts. Based on the huge success of US and UK based peer to peer platforms (e.g. Zopa (http://www.zopa.com/) & Lending Club (http://www.lendingclub.com/)), we launched Israel’s first P2P platform (www.eLoan.co.il (http://www.eloan.co.il/)). We launched after 1.5 years of intensive preparations, and planning to penetrate other relevant countries with local partners, offering them cutting edge underwriting technology and business know-how. The company consists of ~8 employees and currently based in Tel-Aviv.

19:10-19:35 - Eyran Blumberg, General Manager, Israel, FeeX – Robin Hood of Fees: "Feagnorance" + Asymmetry = One Third of Your Retirement Savings

When it comes to our retirement savings, most of us suffer from "Feagnorance" (Fear and Ignorance combined).
We are either too afraid or don't know enough to deal with our pension and retirement savings.In addition, the Asymmetry of information dominates the insurance and banking industry, where the financial institutions have all the information as it comes to prices and fees, and the consumer has very little.The result of Feagnorance and Asymmetry is that more than One Third of our retirement savings is eaten up by excessive fees.FeeX (www.feex.co.il (http://www.feex.co.il/)) is here to change that, harnessing the power of crowdsourcing, we address these issues and provide the consumers simplicity, knowledge and negotiation power.
FeeX's 100% free and objective service was launched half a year ago in Israel, and already monitors more than 300 Million NIS of retirements assets for our users, and has provided them over 20 Million NIS of savings information.

19:35-19:55 Pizza Break

19:55-20:20 - Moran Halevi, Co-Founder & CMO, Pronto:

Contactless is Social.

Whether you like it or not contactless payment is coming. Fast(!). It is every credit card's, bank's and merchants wet dream for us to conduct all of our financial transactions from our smartphones. Imagine the data! Real time information on every caffeine fix and shopping spree. And hey, as consumers, if that leads to better deals and relevant personalized offers then we're there and we are packing plastic.
Pronto develops contactless ultrasonic connectivity solutions. They enable any application for contactless exchanges with a one action user experience and without any need for hardware. With them contactless is as easy as shaking hands.

20:20-20:40 Ira Friedman, Head of the bank establishment organization, Ofek. Ira is a seasoned Banker with 20 years of experience in the private sector as well as the public sector.
Ofek is a newly established cooperative that was founded in 2012 following the social protests in Israel. One of the main conclusion of the different research teams that followed these protests was that the banking system in Israel is one of the most non- competitive systems in the OECD, and one of the outcomes is that the cost of money for households and small businesses is much higher then it could be. Ofek will change this by establishing a bank owned by its customers, thus with minimal margins. In addition it will be the most modern bank in Israel with low operational costs. Ira will describe what is expected in the coming 2 years and how Ofek is about to change the society in Israel.

20:40-21:00 Panel, moderator: Dan Marom.

21:00 – 24:00 Open Jam Session: Are you a musician? Bring your own ax or just play with our instruments. Can't play? Join us for a drink.

Hope to see you all,

Keren and the team