‘ How banking scandals have helped us out a lot ‘

#AceFinanceReport – LONDON:May.30: The four-year-old London-based foreign-exchange platform Kantox just scored a very important investor — Patrick de Nonneville.

De Nonneville was until January a top European executive at Goldman Sachs, but he left the pinnacle of traditional finance to join the booming world of FinTech.

De Nonneville, formerly cohead of European interest rate products at Goldman, joined the online French business-loan startup Lendix as its COO at the start of the year after more than seven years at Goldman.

He’s now taken part in an $11 million funding round announced Wednesday in Kantox, a foreign-exchange platform headquartered in London. He’s also joining the startup’s board.

Both Lendix and Kantox are part of a new wave of businesses using technology to make banking faster, cheaper, and easier. In the process they are also terrifying traditional banks by eating into their business.

“There’s a big realisation inside the financial industry that the changes which are being brought about for big financial companies have opened up a lot of opportunities outside of the main banks,” de Nonneville told Business Insider.


#banking-scandals, #business-economy