Oct 30, 2020

Global FinTech News - 30th of October

By Holland FinTech • Issue #70 • View online

Hello, dear news seeker!

This week has seen further developments for the fintech ecosystem. While we were getting our most frightening costumes ready for Halloween, we also browsed the news in order to bring you the most relevant materials and current trends. Dive into the recap of the week and check out the new format of our articles we arranged for you, so you can benefit from a daily dose of fintech!

And in case you missed our Flash Friday edition of today, co-hosted by Bernadette Wijnings, CFO/COO & Founder at Blanco Fintech and Don Ginsel, our Founder & CEO, check out our YouTube channel here!

From the Holland FinTech Team, we wish you a nice weekend! Happy Halloween!

Highlights from last weeks news related to fintech

Weekly News Highlights - 29 October 2020

Our selection of remarkable news from the industry.

The U.S. Treasury Department sanctioned Larry Dean Harmon, operator of bitcoin “mixers”, with a $60 million penalty for allegedly violating AML laws
CapitalBox, a fintech SME lender, acquired the Dutch division of Spotcap Global, a company offering digital business lending technology to financial institutions
Insurity, a provider of cloud-based core system solutions and data analytics for insurers, brokers, and MGAs, acquired Bill It Now, a provider of cloud-based billing-as-a-service solutions
JP Morgan announced that its digital asset, the JPM coin, has been commercially used earlier this week
Visa’s decision to acquire fintech startup Plaid for $5.3bn is currently under scrutiny from the U.S. Justice Department
UBS Group, a Swiss multinational investment bank and financial services company, has launched UBS Next, a $200M (€170M) portfolio for fintech investments
Razer Fintech, a virtual credit services provider for gamers, is collaborating with FWD Singapore (FWD), an online insurance company
ZestMoney, an Indian consumer lending fintech company which uses AI to offer instant, no-cost EMI plans and credit limits to users, has partnered up with Apple
SoFi, a finance company that offers a range of lending and wealth management services, gains preliminary approval for a national bank charter status
Barclays, a British investment bank and financial services company, offers a virtual accelerator for black-founded tech firms

Read more details about this news and sources HERE.

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The largest funding rounds we found from across the world

Weekly Funding Highlights - 28 October 2020

We have again looked across all oceans to find all investments that are relevant for the financial industry and listed the largest below. This is just the tip of the iceberg.

Ant Group (Hangzhou, Zhejiang, China) aims to raise $34.5 billion (€29.41bn) in its dual IPO (Shanghai and Hong Kong), making it the biggest listing of all time
Lufax (Shanghai, China), an Internet based lending and wealth management platform, announced its plans to raise $2.36 billion (€2.01bn)
DriveWealth (Chatham, New Jersey, US), a cloud-based and API-driven brokerage infrastructure provider, secured $56.7 million (€48.33m)
PrimaryBid (London, UK), a technology platform that allows everyday investors fair access to public companies raising capital, raised $50 million (€42.62m)
Rockset (San Mateo, CA, US), a company offering indexing databases, announced a $40 million (€34.10m) Series B investment
Salto (Tel Aviv, Israel), a SaaS solution provider for business application configuration, raised $27m (€23.02m)
Lili (NY, US), a firm that specializes in developing mobile banking solutions for freelancers, has raised $15m (€12.79m)
StreetShares (Reston, Virginia, US), a Lending-as-a-Service technology provider, secured a $10 million (€8.52m) funding
Gig Wage (Dallas, TX, US), a fintech payroll platform provider for the gig economy, raised $7.5 million (€6.39m)

Read more about this funding news HERE.

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A selection of recent research reports and papers worth reading

Weekly Research Highlights – 27 October 2020

Please check out these research reports and white papers we discovered this week. We felt also some regulatory decisions would also fit well in this category for true readers.

According to a recent report from Global Digital Finance, with new technological advancements such as Facebook’s Libra, the private sector is gaining momentum
In a recent analysis report, the Financial Stability Board (FSB) highlights a rise in technology adoption by institutions to comply with the regtech & suptech regulations
According to a paper conducted by MITSloan, there is a low rate of success inside companies using AI technology due to organizational learning
According to Fintech Global, a new analysis finds that in terms of InsurTech deals, Q3 2020 is so far the best quarter
Harvard Business Research issued a new report revision, which brings additional findings for the personal credit sector
In a Cambridge Center for Alternative Finance paper, the increased popularity of blockchain-based token offerings has seen a need for regulatory frameworks
According to a survey conducted by the Financial Conduct Authority (FCA), 12 million UK adults are struggling with debt repayments
According to the EY FinTech Australia Census 2020, nearly a third of Australian fintechs (30%) are focusing on payments

Read more about the research sources and download pdf’s HERE.

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Background information and insights from opinion leaders and experts

Weekly Analysis & Opinion Highlights - 26 October 2020

We are keeping track of what opinion leaders across the world have to say about everything that is happening in and around financial services and technology. Below, you can find the ones that stood out this week.

According to Satya Swarup, Product Manager at Unisys, the “Contactless Banking” trend is on the rise, facilitated by Covid-19 pandemic
New regulatory frameworks are in store for small banks, with a focus on liquidity visibility and improved cash management processes
According to James Junwoo Kim, CSO/Co-founder of CrossAngle, cryptocurrencies and blockchain data are offering numerous advantages for their users
In a recent article by David G.W. Birch, the latest PayPal course of action to support cryptocurrencies raises follow-up questions and concerns
According to Nicole Jass, Senior Vice President of Small Business and Fraud Products at FIS, Covid-19 further gave rise to cyber attacks
Stephanie Braun Kramer, Director of Product Management at Zendrive, shows that the insurance industry has provided numerous opportunities for customers
Sir Chris Hohn, founder of TCI Fund Management, explains why all asset managers should focus on adopting a policy concerning climate action plans

Read more about these analyses & opinion pieces HERE.

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Connect with the fintech ecosystem at some of the upcoming events

Inspired AI Series 2020 - September to November

Inspired AI Series 2020 brings you cutting edge content at the intersection of business, tech and ethics. Immerse yourself in Inspired AI world!

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Open Banking Expo Digifest - Life’s a Pitch - Deadline Applications: 2nd Nov

Produced by Open Banking Expo, a community of +10,000 global Open Finance executives, and in association with Open Banking Implementation Entity, Life’s a Pitch is a competition that helps budding businesses connect with industry buyers and investors to open doors for start-ups and providers of new technology.

www.openbankingexpo.com • Share

Hong Kong Fintech Week - 2nd-6th November

Invest Hong Kong (InvestHK) announced that its fifth annual Hong Kong Fintech Week will take place from November 2 to 6 digitally. InvestHK also outlined some of its activities and programmes planned for the months leading up to the region’s only cross-boundary fintech trade show.

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Digital Financial Summit 2020 - 24th November

Hosted in Brussels, the capital of European policy setters on the 24th of November, Digital Finance Summit is at the crossroads between Tech Talent, RegTech, Cloud Computing, Big Data, Blockchain, Crypto-assets, Artificial Intelligence, Crowdfunding, Cybersecurity and Banking.

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EBAday 2020 - 24th-26th November

EBAday offers the perfect level playing field for all our sponsors and exhibitors. Virtually network with the world’s leading banks, ACHs, technology vendors and consultancies to see the latest industry offerings, solutions and corporate visions.

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DIA Prime Time - 30th November-3rd December

Tune in from home or from the office. Shape the future together with handpicked insurtechs. Learn from a record number of keynote speakers. Immerse in effective ways of networking. DIA Prime Time will take place from Monday 30 November to Thursday 3 December; each day from 2 pm to 5 pm, in three different time zones.

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European Fintech Hackcelerator - 7th-11th December

Welcome to the international program tailor-made for FinTech startups ready to conquer the ASEAN market. With Accelpoint and the Singapore FinTech Festival, we will be your gateway and guide towards a successful venture. Shall we begin?

www.europefh.com • Share

Ready to get involved? Click here to find out more.

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