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Introducing Embark & Fnz Studio Iii Ventures INTRODUCING EMBARK & FNZ STUDIO III VENTURES embarkgroup.co.uk 2 | EMBARK GROUP: INTRODUCING EMBARK & FNZ STUDIO III VENTURES THE NEW PARADIGM The future of financial services will be impacted deeply by the emergence of embedded finance: finance that promises to be more internet-like, more interconnected and more customizable, with novel components that can be inserted into individual businesses in different sectors. The evolution of each of these components, and the interactions among them, will reveal even more adjacencies between financial services and virtually every other industry. We are at a key inflection point in which fundamentally new business models will arise and flourish. These new models will both unlock and create enormous value within and among our economies and societies and, along the way, create many new and successful businesses.* It is estimated there are some 1600 FinTech firms in the UK, with this number suggested to double by 2030. FinTech adoption rate in the UK sits at 42% when compared with the global average of 33%. In the UK 82% of 89,000 incumbent firms expect to increase FinTech partnerships in the next three to five years, with over 56% of traditional financial institutions having put disruption at the heart of their strategy. The pace of innovation in FinTech is accelerating, particularly across the areas of AI and Data Science, with the potential for unprecedented impact on customers, finance professionals and shareholders in financial institutions. With over $10B in financing and $86.5B in M&A activity in Q1 2020 alone, finance remains the industry most committed to digital transformation and yet it is estimated that over 90% of Banks and Insurance Companies struggle with meaningful implementation of digital change. Scotland is a global FinTech Centre, building on its reputation as an international financial location, with Edinburgh being the UK’s leading financial centre outside London. Scotland is seen as one of the top FinTech destinations in the world, and is home to over 100 FinTech companies, and voted the best European location to start a tech business.** * Source: Anthemis Embedded Finance The Future of The Economy, Nov 2019. ** Source: UK FinTech – State of the Nation as at April 2019 (source UK Government). EMBARK GROUP: INTRODUCING EMBARK & FNZ STUDIO III VENTURES | 3 INTRODUCING EMBARK & FNZ STUDIO III VENTURES Embark Group together with technology partner FNZ are We are adopting a collaborative model that brings together creating the first dedicated FinTech Venture Studio in Embark Group, with its institutional shareholders, clients, Dundee with the support and collaboration from the and ecosystem of partners from across the financial Scottish Government, Scottish Enterprise, FinTech Scotland services supply chain, to deliver a broad Wealth and and the Scottish Investment Bank. Asset Management led Venture Studio in Dundee. We are partnering with a leading FinTech Venture Capital firm, Anthemis to support the venture studio and lead the investment strategy. The Ecosystem Funding • Corporate Sponsors Industry Technology Challenges/ • VC Partner Problem solving • VC Co-investors • Investor Network • Scottish National Innovation Universities/ Human • Investment Bank Academia Capital Venture Building Embark Group Ideas Founders & Anthemis Ecosystem for Innovation & Business Collaboration Guidance Social Impact Support & through from Mentors Start-up Growth Shared business & Founder Capital Services network Network Scottish Research Ideas Government Grants Scottish Enterprise FinTech Scotland With a series of aims • Helping to improve financial inclusion across society • Encouraging new female led businesses in collaboration and support the delivery of financial wellbeing with partners who value and support the impact of this focus. • Enabling our stakeholders and partners to take advantage of the growth and innovation from new and • Creating a diverse group of talented entrepreneurs entrepreneurial ventures through a dedicated R&D globally to help reshape the industry, locally, regionally platform and a pipeline of entrepreneurial companies and internationally. • Helping to build and nurture innovative and transformative capabilities for individual businesses Interested in learning more? and the industry at a global level. Contact Neil Hoad, FinTech Director • Providing access to valuable, early stage investment E: [email protected] opportunities in association with our partners at T: 01382 938 774 Anthemis. M: 07557 339 281 4 | EMBARK GROUP: INTRODUCING EMBARK & FNZ STUDIO III VENTURES ABOUT EMBARK Embark Group is a technology led retirement focused wealth platform delivering products and services to its B2B clients in support of their retail savings and investment propositions to end customers. CUSTOMER TECHNOLOGY DEEP AND SAFE AND OUTCOME LED PROVEN SECURE FOCUSED EXPERTISE Embark set out to disrupt the UK investment savings market The company’s technology is designed to deliver real through technology, processing capabilities, technical customer value, enabling its clients to profitably service excellence in retirement wrappers and the ability to deliver customers of every affluence via a fully integrated dealing multi-channel savings services to the Robo-Advice, Banking solution. Its API interfaces offer streamlined routes to and Wealth Management markets. By combining the market for leading white label partners and other scale acquisitions of a range of specialist businesses with new D2C partners. solutions built using the latest digital technology, Embark provides a unique combination of deep pension expertise and leading technology integration that covers the areas of Investment Platform, SIPP, SSAS, Multi-Asset Funds, Fund Research and Employee Benefits Consulting. EMBARK GROUP: INTRODUCING EMBARK & FNZ STUDIO III VENTURES | 5 ABOUT EMBARK (CONTINUED) c£34.6bn c402,000 Assets Under Individual Administration Clients 650+ Strong AKG Employees Across Rating B Across 9 UK Offices the Group Profitable Business £35m Multi-£m Capital PII Cover & Investment Strategy Cyber Insurance Figures are pro-forma and include the recent acquisitions of Alliance Trust Savings and Zurich businesses. Market Leading Institutional Investors MERIAN LEGG MASON GLOBAL BLACKROCK GLOBAL INVESTORS ASSET MANAGERS NEW STAR FRANKLIN TEMPLETON FNZ INVESTMENT TRUST PLC 6 | EMBARK GROUP: INTRODUCING EMBARK & FNZ STUDIO III VENTURES OUR PARTNERS Anthemis Delivering a deep understanding of markets and models, Anthemis uses rigorous design thinking to build new, with a passion for emerging technology and values, venture-backed businesses. Anthemis work in the white inspires everything that they do. By creating fertile ground space where companies do not yet exist alongside for a diverse group of startups, investors, entrepreneurs, entrepreneurs with ambitious visions to imagine the future. institutions, academics, and visionaries to converge, they believe it is possible to solve the financial services world’s Anthemis explore new ways of thinking about financial most pressing challenges faster, better and for the services by drawing inspiration from people and companies benefit of all. inside – and outside – our ecosystem who challenge perceptions about our industry and its future. Anthemis has a diversified portfolio of best-in-class, high- growth, digitally native financial services companies based around the world. Anthemis are thesis-driven investors and hold several vehicles in which Anthemis invest discretionary and non-discretionary capital across a wide range of companies, from early stage to growth. FNZ FNZ partners with major financial institutions to enable Today, FNZ is responsible for over £400 billion in assets them to provide multi-channel wealth management under administration (AuA) held by around 8 million services to their clients across direct, intermediated customers of some of the world’s largest financial and workplace channels. institutions, including Aviva, Barclays, BNZ, Findex, Generali, Lloyds Banking Group, National Australia FNZ is a global platform-as-a-service provider, Bank, Quilter, Santander, Standard Life Aberdeen, transforming the way financial institutions serve their Swedbank, UBS, UOB, Vanguard and Embark. wealth management customers. It partners with banks, insurers and asset managers to help consumers better In total, FNZ partners with over 60 financial institutions achieve their financial goals. globally and employs over 2,500 in Australia, China, Czech Republic, Germany, New Zealand, Singapore, the Nordics and the United Kingdom. [email protected] 07557 339 281 8 West Marketgait, Dundee DD1 1QN embarkgroup.co.uk Embark Group Limited is a company incorporated in England and Wales and is the holding vehicle for all companies in the Group. Company registration number: 03578067. Registered at 7th Floor, 100 Cannon Street, London, EC4N 6EU..
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