The market for fintech, or financial technology software, was one of the hottest sectors in 2015.
The time is ripe for financial innovation: new technologies are helping end users skip past gatekeepers and intermediaries to customize their use of financial products. Meanwhile, many of the same technologies are also erasing the inefficiencies of banks and other financial institutions to cut costs in ways the industry never deemed possible. Lastly, innovations such as the blockchain are changing the way banks approach their most basic mechanisms – as a result, even the most fundamental practices in banking are evolving.
In the Brief this Week…
Andalas Energy and Power (ADL) had a busy week, announcing a new NOMAD and broker, Board changes and a farm-in agreement for the Tuba Obi East oil and gas concession in Indonesia; FinnAust Mining (FAM) announced positive survey results at its Pituffik Titanium Project in Greenland, revealing that high grade ilmenite extends offshore into the shallow marine environment; Highlands Natural Resources (HNR) was re-admitted to trading on the LSE this week; Hummingbird Resources (HUM) added US$24m and 169,000oz gold to its Yanfolila Gold Project in Mali; MX Oil (MXO) received an eye-catching US$18 million offer for its stake in the Aje Field, offshore Nigeria and provided an update on its four Mexican concessions; Noricum Gold (NMG) announced positive drill results at its Kvemo Bolnisi Project in the Republic of Georgia; Northcote Energy (NCT) completed infrastructure upgrades at the Shoats Creek Field, Louisiana, which has allowed production to commence at the Lutcher Moore #20 well; Plexus Holdings (POS) and its Malaysian JV partner won its first £0.9M well order with Talisman Energy in Indonesia; and Teathers Financial Plc (TEA) has issued an update as it continues to identify development opportunities following its suspension on AIM in December last year.