Apr 15, 2022

Global FinTech News - 14 April 2022

By Holland FinTech • Issue #146 • View online

Dear reader,

This week anti-virus controls that have shut down some of China’s biggest cities and fueled public irritation as infections rise, hurting a weak economy and prompting warnings of possible global shockwaves. Meanwhile, a new COVID-19 variant made up of two strains of Omicron is thought to be even more infectious than the one currently driving cases up around the world. Health officials are tracking the strain, called XE, which was first detected in the UK but is now being reported in cases elsewhere.

Further, in fintech, you can discover the latest developments and news, and stay current on global fintech perspectives. You can find information about upcoming events, new investments, research and breakthroughs within the industry. In addition, find more ways to support Ukraine here. Happy reading!

From the Holland FinTech team, we wish you a great weekend.

Connect with the fintech ecosystem at some of the upcoming events.

Finnovex East Africa April 20-21

Finnovex East Africa will discuss the roles of banking and non-banking institutions, financial organizations, investment firms, fintech companies, and other stakeholders in developing incentives to the paradigm shift in this sector.East Africa leading summit on Financial Services Innovation and excellence.

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Flash Friday: Staying Ahead of the Fintech News - 22 April

Holland FinTech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest fintech news and developments! This Friday, Don will be joined by Emanuele Francioni, Founder & Tech Lead from Dusk Network

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Machine Learning in Key Areas of Banking - 27 April

Hear all about machine learning in the webinar jointly organized by UiPath, a global technology leader in end-to-end enterprise automation and Efma – the European Financial Management Associaton.

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Global InsurTech Summit - London - 28 April

The Global InsurTech Summit Will Host 300 Vetted Senior Decision-Makers Alongside The Most Disruptive InsurTech Founders And Tech Innovators In Europe.

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Highlights from last weeks news related to fintech

Weekly News Highlights - 14 April 2022 - Holland FinTech

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, lending, banking, crypto, NFT and more:

Payment service provider Stripe has teamed up with several tech companies to commit nearly USD 1 billion in spurring the carbon-capture market
FIS, a publicly-traded fintech company and the largest processing and payments provider in the world, has partnered with New York-based cryptocurrency infrastructure firm Fireblocks
European governments are facing a major dilemma after the European Commission said Moscow’s demand that payments for gas deliveries be converted into rubles risks breaching EU sanctions
Crypto lender Nexo has teamed up with global payments company Mastercard to launch what it calls the world’s first “crypto-backed” payment card
Dutch digital payments infrastructure provider TerraPay has received approval to operate a money service business in the U.S
The National Payments Corporation of India, the payments body that oversees the widely popular UPI instrument, has given approval to WhatsApp to extend its payments service to 100 million users in the South Asian market
Ethereum’s first mainnet shadow fork went live, as the developers of the world’s second-largest cryptocurrency by market cap continue transitioning the backing network to a proof-of-stake (PoS) model
Australia Treasury and the Monetary Authority of Singapore (MAS) jointly announced that they have signed the Australia-Singapore Fintech Bridge Agreement

Read more about this week’s news here.

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The largest funding rounds we found from across the world

Weekly Funding Highlights - 13 April 2022 - Holland FinTech

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT and more:

Coda Payments ( Singapore), has raised $690 million in funding to enable cross-border payments for games and other digital products, as well as alternative app stores
Capital on Tap (London, UK), a fintech, has secured a $200m (£153.6m) investment from HSBC and Värde Partners to continue expanding its SME funding service in the US
Binance.US (San Francisco, CA) has closed its first funding round, raising more than $200 million at a $4.5 billion pre-money valuation
Stark Bank (São Paulo, Brazil), a financial services challenger has received a $45 million investment led by Ribbit Capital, Lachy Groom and Amazon founder Jeff Bezos’ firm Bezos Expeditions
RiseUp (Tel-Aviv, Israel),a fintech startup, announced this week the completion of a $30 million Series B funding round
Zevoy (Uusimaa, Finland) , a fintech startup has just bagged €15 million in a Series A round led by Blossom Capital
Other interesting funding rounds this week: Montonio (Tallinn), €11 million in a Series A, Google’s AI-focus venture fund has led an €8 million round for Payaut

Read more about this weeks funding here.

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A selection of recent research reports and papers worth reading

Weekly Research Highlights - 12 April 2022 - Holland FinTech

For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.

“The State of Digital Banking 2022” via (Unblu) - The past few years have been a battleground for business survival—but a playground for innovative disruptors. The complex external shocks felt by financial institutions throughout the pandemic and economic downturn have been matched by developments in digital and tech, setting business transformation as the standard for lasting success.
“IPCC report: urgent climate action needed to halve emissions by 2030” via (Weforum) - The third and final instalment of the IPCC’s Sixth Assessment report Mitigation of Climate Change, published on 4 April, found that average annual global greenhouse gas emissions were at their highest levels in human history between 2010 to 2019, but the rate of growth of emissions has since slowed.
“Cybersecurity trends: Looking over the horizon” via (Mckinsey) -McKinsey examines three of the latest cybersecurity trends and their implications for organizations facing new and emerging cyberrisks and threats.
“Hong Kong’s First In-depth Fintech Development Study Released” via (Miragenews) - With fintech being a key part of Hong Kong’s drive to stay competitive as a financial center, the School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School) completed an in-depth research study pointing way forward for Hong Kong’s development into a leading global fintech hub.
“SSRF Flaw in Fintech Platform Allowed for Compromise of Bank Accounts” via (Threatpost) - Researchers discovered the vulnerability in an API already integrated into many bank systems, which could have defrauded millions of users by giving attackers access to their funds.

Read more about this week’s research here.

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Background information and insights from opinion leaders and experts

Weekly Analysis and Opinion Highlights - 11 April 2022 - Holland FinTech

And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.

“Apple ID, not Apple Pay, will be the gamechanger” via (LinkedIn) - Replacing the payment cards was easy. Replacing the identity cards is hard. But in the long term, it’s much more valuable.
“How new technology is changing the face of fraud detection in neobanks” via (Fintech Future) - In 2018, there were just 60 worldwide challenger banks in operation. Today, that number has skyrocketed to nearly 300, and as exciting as the new landscape is, the strain is beginning to show.
“Top Wall Street analysts say these stocks are the best for long-term growth” via (CNBC) - Stocks were volatile in the past week as investors digested the Federal Reserve’s plans to tighten monetary policy. Investing in the near term looks precarious as investors weigh recession risk, supply chain disruptions and the conflict in Eastern Europe
“Bank Deposits to See 80-Year Decline as Consumers Move Cash Stockpiles” via (PYMNTS) - U.S. banks might see deposits decrease for the first time in several decades, The Wall Street Journal wrote Sunday (April 10).
“Unbundling the core in the cloud: the perfect architecture for future-proof banks” via (Fintech Future) - The speed of innovation in the fintech space requires banks to break free from their core limitations and offer new products in months, not years.

Read more about Analysis and Opinion here.

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