• Fasanara Capital

Quantum Computing for Finance, Mastercard Claims £14bn, Amazon Bank, Future Fund & Other Topics



Happy Tuesday and Merry Christmas!



In this festive blogpost:


  • How quantum computing could change financial services

  • Could Amazon start a bank? The FDIC has opened the door

  • Artificial Intelligence is the New Innovation Driver for Asset Management

  • Consumer Groups Eagerly Await Results as MasterCard faces £14bn Damages Claim after Supreme Court Ruling

  • Future Fund Publishes Diversity Data on 971 Companies Approved for Convertible Loan Agreements.




How quantum computing could change financial services



The impact of the COVID-19 pandemic has shown that accurate and timely assessment of risk remains a serious challenge for financial institutions. Even before the events of 2020, the last two decades have seen financial and economic crises that led to rapid changes in how banks and other market participants assessed and priced risk of different asset classes. This led to the introduction of increasingly complex and real-time risk models powered by artificial intelligence but still based on classical computing.

The arrival of quantum computing is potentially game changing, but there is a way to go before the technology can be rolled out at scale. Financial institutions are only just starting to get access to the necessary hardware and to develop the quantum algorithms they will need. Still, a rising number of initiatives suggest a tipping point is on the horizon. For banks yet to engage, and particularly those that rely on computing power to generate competitive edge, the time to act is now.


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Could Amazon start a bank? The FDIC has opened the door



Amazon.com, Facebook, Walmart and other corporate giants may soon give Wall Street a run for its money as a key U.S. regulator is smoothing the path for nonbanks to get into lending.

The proposal released earlier this year sparked alarm in the banking industry over the prospect of competition against massive companies that could leverage their huge customer bases and guaranteed consumer traffic to gain meaningful toeholds in banking. And they could offer customers financial services backed by the government — including FDIC deposit protections — with fewer regulatory demands.

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Artificial Intelligence is the New Innovation Driver for Asset Management



In the early 1990s, computer scientists and mathematicians discovered a famous strategy now known as STRATEGY C. The first in history, these new group of investors who approached money making with an engineering approach had brought outstanding results when compared to the financial experts in Wall Street.

The first and second generation of quantitative funds continued to increase in size and demand, problems started to arise. In a market with zero-sum attributes, most strategies were short-lived and returns from large-scale quant funds had dropped significantly.


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Consumer Groups Eagerly Await Results as Mastercard faces £14bn



Mastercard, one of the world’s largest cards and payment solutions providers, has been accused of allegedly overcharging 46 million British consumers during a 15-year period. A £14bn damages claim on behalf of these brits has now been given the green light to proceed following a landmark ruling by the UK’s highest court.


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Future Fund Publishes Diversity Data on 971 Companies Approved for Convertible Loan Agreements



The British Business Bank has published Future Fund data, giving a detailed picture of the 971 companies that have been approved for £975.5m worth of Convertible Loan Agreements since the scheme was launched on 20 May. There have been 1,432 applications in total since the scheme was launched.

The data reveals that 39% of the funding approved for companies, relating to convertible loan agreements worth £384.9m, was for businesses with their headquarters located outside of London. Of the total amount of £975.5m, 15% is to companies headquartered in the South (South East and South West), 11% in the North (North West, North East and Yorkshire and the Humber), 8% in the East of England, 4% in the Midlands (East Midlands and West Midlands) and 3% in the Devolved Nations (Scotland, Wales and Northern Ireland). London accounts for 61% of companies, in line with the wider market trends for equity investments. The British Business Bank’s 2019/20 Small Business Finance Markets report showed that London received 66% of equity investment by value in 2019.


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