Fintech in the construction industry - Revision history

Designing Buildings at 06:43, 30 November 2020

2020-11-30T06:43:45Z

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	* Supply chain management.		* Supply chain management.

−	[[Category:~~Research_/_Innovation~~]] [[Category:~~DCN_Research,_Development_and_Innovation~~]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Research_/_Innovation]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Designing Buildings: moved Fintech to Fintech in the construction industry

2018-06-17T08:08:30Z

moved Fintech to Fintech in the construction industry

← Older revision

Revision as of 08:08, 17 June 2018

Editor at 13:18, 21 December 2017

2017-12-21T13:18:37Z

← Older revision		Revision as of 13:18, 21 December 2017
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	* Information and communications technology in construction.		* Information and communications technology in construction.
	* Life cycle costs.		* Life cycle costs.
		+	* Proptech.
	* Smart technology.		* Smart technology.
	* Supply chain management.		* Supply chain management.

−	[[Category:Research_/_Innovation]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]	+	[[Category:Research_/_Innovation]] [[Category:DCN_Research,_Development_and_Innovation]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Designing Buildings at 11:28, 6 December 2017

2017-12-06T11:28:48Z

← Older revision		Revision as of 11:28, 6 December 2017
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−	The term 'Fintech' is derived from the words ‘financial’ and ‘technology’ and is used to describe the emerging ~~industry of~~ start-up technology companies that are influencing and disrupting the financial services industry. The services that are being disrupted most by Fintech include mobile payments, money transfers, loans, fundraising, and so on.	+	The term 'Fintech' is derived from the words ‘financial’ and ‘technology’ and is used to describe the emerging start-up technology companies that are influencing and disrupting the financial services industry. The services that are being disrupted most by Fintech include mobile payments, money transfers, loans, fundraising, and so on.

	The proliferation of the smartphone has drastically changed consumer behaviour, creating a culture of ‘always online’ users. Online services and apps have widened the scope of what users expect to be able to access and action, and when. This has inevitably influenced banking and financial services, where Fintech can generate considerable savings through agility, an ability to innovate and adapt, and there relatively small size in contrast with the operations of traditional banks.		The proliferation of the smartphone has drastically changed consumer behaviour, creating a culture of ‘always online’ users. Online services and apps have widened the scope of what users expect to be able to access and action, and when. This has inevitably influenced banking and financial services, where Fintech can generate considerable savings through agility, an ability to innovate and adapt, and there relatively small size in contrast with the operations of traditional banks.
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	For more information, see [http://www.uk.progressclaim.com/ Progressclaim].		For more information, see [http://www.uk.progressclaim.com/ Progressclaim].

−	In 6 December 2017, HM Treasury announced the launch of The Challenge, a competition offering budding entrepreneurs the chance to win £2 million. The prize will be awarded for the development of an application to use rental payment data to improve credit scores and mortgage applications for Britain's 11 million renters.	+	On 6 December 2017, HM Treasury announced the launch of The Challenge, a competition offering budding entrepreneurs the chance to win £2 million. The prize will be awarded for the development of an application to use rental payment data to improve credit scores and mortgage applications for Britain's 11 million renters.

−	Winning bids will be selected by a panel of leading figures from the Fintech sector, and an initial round of grant funding will be provided to six proposals, helping to turn the ideas into workable products. These six will then be whittled down to a handful of teams who will receive further funding and support~~, with the aim being~~ to bring their ideas to market.	+	Winning bids will be selected by a panel of leading figures from the Fintech sector, and an initial round of grant funding will be provided to six proposals, helping to turn the ideas into workable products. These six will then be whittled down to a handful of teams who will receive further funding and support to bring their ideas to market.

	The Challenge will open to applications early in 2018, and development will conclude in October 2018. For more information, see [https://www.gov.uk/government/news/fintech-to-help-renters-get-on-the-housing-ladder here.]		The Challenge will open to applications early in 2018, and development will conclude in October 2018. For more information, see [https://www.gov.uk/government/news/fintech-to-help-renters-get-on-the-housing-ladder here.]

Editor at 10:58, 6 December 2017

2017-12-06T10:58:36Z

← Older revision		Revision as of 10:58, 6 December 2017
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	* The cross-border transfer of money, through services such as TransferWise, which allows SMEs and individuals to transfer money far more cheaply and quickly than was previously possible.		* The cross-border transfer of money, through services such as TransferWise, which allows SMEs and individuals to transfer money far more cheaply and quickly than was previously possible.

−	In the construction industry, Fintech has begun to influence processes such as payments and supply chain management. For example, an Australian Fintech platform Progressclaim, has enables building contractors to administer payment claims, avoid disputes and reduce processing costs. Both contractors and subcontractors collaborate on a single neutral platform that provides a central communication mechanism for the contractor to value work and approve subcontractor payments quickly and accurately, improving the management process throughout the supply chain.	+	In the construction industry, Fintech has begun to influence processes such as payments and supply chain management. For example, an Australian Fintech platform Progressclaim, has enables building contractors to administer payment claims, avoid disputes and reduce processing costs.
		+
		+	Both contractors and subcontractors collaborate on a single neutral platform that provides a central communication mechanism for the contractor to value work and approve subcontractor payments quickly and accurately, improving the management process throughout the supply chain.

	For more information, see [http://www.uk.progressclaim.com/ Progressclaim].		For more information, see [http://www.uk.progressclaim.com/ Progressclaim].
		+
		+	In 6 December 2017, HM Treasury announced the launch of The Challenge, a competition offering budding entrepreneurs the chance to win £2 million. The prize will be awarded for the development of an application to use rental payment data to improve credit scores and mortgage applications for Britain's 11 million renters.
		+
		+	Winning bids will be selected by a panel of leading figures from the Fintech sector, and an initial round of grant funding will be provided to six proposals, helping to turn the ideas into workable products. These six will then be whittled down to a handful of teams who will receive further funding and support, with the aim being to bring their ideas to market.
		+
		+	The Challenge will open to applications early in 2018, and development will conclude in October 2018. For more information, see [https://www.gov.uk/government/news/fintech-to-help-renters-get-on-the-housing-ladder here.]

	= Find out more =		= Find out more =

Editor at 14:41, 8 May 2017

2017-05-08T14:41:17Z

← Older revision		Revision as of 14:41, 8 May 2017
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	* Collaborative practices.		* Collaborative practices.
	* Fair payment practices.		* Fair payment practices.
		+	* Industry Disruption: 10 ways real estate is changing.
	* Information and communications technology in construction.		* Information and communications technology in construction.
	* Life cycle costs.		* Life cycle costs.

Designing Buildings at 07:50, 7 December 2016

2016-12-07T07:50:05Z

← Older revision		Revision as of 07:50, 7 December 2016
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−	Fintech is ~~a term coined~~ from ‘financial’ and ‘technology’ and ~~applies~~ to the ~~developing~~ industry of start-up ~~tech~~ companies that are influencing the financial services industry. The services that are being disrupted most by Fintech include mobile payments, money transfers, loans, fundraising, and so on.	+	The term 'Fintech' is derived from the words ‘financial’ and ‘technology’ and is used to describe the emerging industry of start-up technology companies that are influencing and disrupting the financial services industry. The services that are being disrupted most by Fintech include mobile payments, money transfers, loans, fundraising, and so on.

−	The proliferation of the smartphone has drastically changed behaviour, ~~inspiring~~ a culture of ‘always online’. ~~This has meant that~~ services and apps have widened the scope of what users expect to be able to access and action through ~~this new technology~~.	+	The proliferation of the smartphone has drastically changed consumer behaviour, creating a culture of ‘always online’ users. Online services and apps have widened the scope of what users expect to be able to access and action, and when. This has inevitably influenced banking and financial services, where Fintech can generate considerable savings through agility, an ability to innovate and adapt, and there relatively small size in contrast with the operations of traditional banks.

−	~~This has inevitably widened to banking and financial services, where Fintech is able to pass on considerable savings due to their agility, ability to innovate and adapt, and lack~~ of ~~size in contrast with traditional banks.~~	+	Two examples of Fintech’s influence include:

−	~~Two major examples of Fintech’s influence are crowdsourcing~~ through services such as Kickstarter, enabling people to acquire funding quickly and easily~~; and the~~ cross-border ~~transferring~~ of money, through services such as TransferWise, which allows SMEs and individuals to transfer money far ~~cheaper~~ and ~~quicker~~ than previously.	+	* Crowdsourcing through services such as Kickstarter, enabling people to acquire funding quickly and easily.
		+	* The cross-border transfer of money, through services such as TransferWise, which allows SMEs and individuals to transfer money far more cheaply and quickly than was previously possible.

−	In the construction industry, Fintech has begun to influence payments and supply chain management. An Australian Fintech platform Progressclaim, has ~~begun enabling~~ building contractors to administer payment claims, avoid disputes and reduce processing costs. ~~The idea behind it is that both~~ contractors and subcontractors collaborate on a single neutral platform~~. This acts as~~ a central communication mechanism for the contractor to value ~~the~~ work and ~~then~~ approve subcontractor ~~applications~~ quickly and accurately, improving the management process throughout the supply chain.	+	In the construction industry, Fintech has begun to influence processes such as payments and supply chain management. For example, an Australian Fintech platform Progressclaim, has enables building contractors to administer payment claims, avoid disputes and reduce processing costs. Both contractors and subcontractors collaborate on a single neutral platform that provides a central communication mechanism for the contractor to value work and approve subcontractor payments quickly and accurately, improving the management process throughout the supply chain.

	For more information, see [http://www.uk.progressclaim.com/ Progressclaim].		For more information, see [http://www.uk.progressclaim.com/ Progressclaim].

Editor: Created page with "Fintech is a term coined from ‘financial’ and ‘technology’ and applies to the developing industry of start-up tech companies that are influencing the financial services i..."

2016-11-30T15:45:03Z

Created page with "Fintech is a term coined from ‘financial’ and ‘technology’ and applies to the developing industry of start-up tech companies that are influencing the financial services i..."

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Fintech is a term coined from ‘financial’ and ‘technology’ and applies to the developing industry of start-up tech companies that are influencing the financial services industry. The services that are being disrupted most by Fintech include mobile payments, money transfers, loans, fundraising, and so on.

The proliferation of the smartphone has drastically changed behaviour, inspiring a culture of ‘always online’. This has meant that services and apps have widened the scope of what users expect to be able to access and action through this new technology.

This has inevitably widened to banking and financial services, where Fintech is able to pass on considerable savings due to their agility, ability to innovate and adapt, and lack of size in contrast with traditional banks.

Two major examples of Fintech’s influence are crowdsourcing through services such as Kickstarter, enabling people to acquire funding quickly and easily; and the cross-border transferring of money, through services such as TransferWise, which allows SMEs and individuals to transfer money far cheaper and quicker than previously.

In the construction industry, Fintech has begun to influence payments and supply chain management. An Australian Fintech platform Progressclaim, has begun enabling building contractors to administer payment claims, avoid disputes and reduce processing costs. The idea behind it is that both contractors and subcontractors collaborate on a single neutral platform. This acts as a central communication mechanism for the contractor to value the work and then approve subcontractor applications quickly and accurately, improving the management process throughout the supply chain.

For more information, see [http://www.uk.progressclaim.com/ Progressclaim].

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Accounting.
* Advanced construction technology.
* Building data exchange.
* Collaborative practices.
* Fair payment practices.
* Information and communications technology in construction.
* Life cycle costs.
* Smart technology.
* Supply chain management.

[[Category:Research_/_Innovation]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]