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Global FinTech News - 3rd June 2022

Global FinTech News - 3rd June 2022
By Holland FinTech  • Issue #153 • View online
Dear reader,
This week Britain’s Queen Elizabeth II will miss a service of thanksgiving at St Paul’s Cathedral for her 70 year reign on Friday, after experiencing “some discomfort” during the first day of her Platinum Jubilee celebration.
On June 7-9th Europe’s biggest fintech convention Money20/20 will take place in Amsterdam. Join Holland Fintech and our partners at the Booth A160 and find out more about the agenda full of unmatched Fintech content and loaded with some of the biggest names in the industry.
In Fintech this week we see some of these layoffs hitting the industry, as well as several new partnerships and large funding rounds. 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.
Connect with the fintech ecosystem at some of the upcoming events.
Amsterdam Fintech Week 9-16th September
This week brings together everyone in the Dutch Fintech ecosystem. This is for the techies, but also the business people, the smart ones and the curious ones. Check out the latest updates on themes, speakers, co-organizers and sponsors here!
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Money 20/20 Europe - 7-9th June
Money 20/20 Europe - 7-9th June
Money 20/20 Europe brought together 4,000+ attendees from 1,900+ companies, having over 3,000 real-life meetings in 2021, and this year will beat that number easily. Book your ticket now and join Holland Fintech and partners at our stand A160 at the conference.
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Holland Fintech Meetup (June) with Google - 10 June
Holland Fintech Meetup (June) with Google - 10 June
This meetup will be taking place at Google’s office in Amsterdam! Join us in this international Fintech ecosystem and gather together and allow for the companies of our Network to stay at the Forefront of Innovation
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With Europe being a World leader in technology, this conference has been created to inspire, celebrate and connect European women working in this sector. 8-9 June 2022!
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Be part of the future at London Tech Week as we amplify the power, resilience, and speed of innovation, across all industries.
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This event will bring you up-to-date on the latest technology developments in areas such as application modernization, optimizing ML performance, and streaming analytics. Together with peers and Google experts, you will be able to build your skills.
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Highlights from last weeks news related to fintech
Highlights from last weeks news related to fintech
Weekly News Highlights - 2 June 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:
  • Accenture has acquired Allgemeines Rechenzentrum GmbH (ARZ), a technology service provider focused on the banking sector in Austria
  • Worldline, a global leader in payment services is one of the first payments companies to enter the Metaverse with the launch of a dedicated virtual showroom
  • The Monetary Authority of Singapore (MAS) announced the launch of Project Guardian, a collaborative initiative that seeks to explore the economic potential and value-adding use cases of asset tokenisation
  • Fintech startup and alternative credit asset manager Viola Credit has closed its latest $700 million fund, which provides asset-based lending capital to fintech, proptech and insurtech startups
  • Swedish fintech Trustly has acquired UK-based competitor Ecospend, as part of a plan to strengthen the company’s position in the British market
  • Global card issuing platform Marqeta has announced it works closely with Sweden-based BNPL platform, Klarna, to power its new Klarna Card
  • Chubb and insurtech firm JA Assure announced the launch of HaxsafeTM, a cyber insurance portal targeting SMEs looking for accessible insurance solution
Read more about this week’s news here.
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The largest funding rounds we found from across the world
The largest funding rounds we found from across the world
Weekly Funding Highlights - 1 June 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.
  • New York-based fintech Clear Street has secured $165 million in a Series B funding round led by Prysm Capital. 
  • Hong Kong-based Babel Finance, a wholesale crypto financial services provider, has completed an $80 million Series B round at a valuation of $2 billion.
  • TransferMate, a leading provider of B2B payments infrastructure as-a-service, announced a $70M funding round bringing the company to a valuation of $1BN and $130M of total funding. 
  • Jar (Bangalore, Karnataka, Indian), a fintech, which closed a $32 million financing round in February this year, is in talks to raise new funding as it looks to scale its product and expand its offerings.
  • NAKAD (Delhi, India),a four-month-old fintech startup has raised $7 Mn in a seed funding round led by Accel and Matrix Partners India along with AdvantEdge Founders. 
  • Other notable funding includes: Fintech firm Three Wheels United raises $10 million and Pay-Later Fintech Startup ShopSe Bags $6.1 Mn To Grow Its Lender Partnerships.
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A selection of recent research reports and papers worth reading
A selection of recent research reports and papers worth reading
Weekly Research Highlights - 31 May 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.
  • “Risk, Recovery, and Empowerment’ Details Benchmark for Global Policy Leaders” via (Fintech Futures) - Finance and Tech Innovator Marcia-Elizabeth C. Favale Shares One-of-a-Kind Bank Restructure Study. 
  • “RBI Annual Report | Regulations key for fintech, involvement of Big Techs in the segment brings systemic risks” via (Money Control) - The Reserve Bank of India (RBI) outlined its approach towards the Indian fintech sector, which is largely unregulated in areas such as digital lending and neobanking, saying that even though innovation thrives in the absence of regulations, legislation is needed to ensure sustainable growth. 
  • “Financial Stability Review, May 2022” via (ECB) - The May 2022 Financial Stability Review (FSR) has been prepared against the backdrop of the devastating invasion of Ukraine. 
  • “Juniper Research: Biometrically Authenticated Remote Mobile Payments to Reach $1.2 Trillion Globally by 2027” via (Fintech Futures) - A new study from Juniper Research has found the value of biometrically authenticated remote mobile payments will reach $1.2 trillion globally by 2027; rising from $332 billion in 2022. 
  • “Banks Plan on Tripling their Use of Cloud by 2025” via (Fintech News) - Though cloud adoption in the banking industry has increased steadily over the past years, adoption is projected to accelerate significantly as bank seek to automate processes, apply advanced analytics to data, and enhance their ability to embed partners like fintechs.
Read more about research here.
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Background information and insights from opinion leaders and experts
Background information and insights from opinion leaders and experts
Weekly Analysis and Opinion Highlights - 30 May 2022 - Holland FinTech
And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.
  • “Fintechs, don’t go to market alone: three must-haves for your FI partnership” via (Fintech Futures) - The last few years have seen an uptick in fintech and bank partnerships, as the former look to the latter to help ramp up their go-to-market strategy.
  • “Here’s why the Netherlands is top for fintech careers” via (Silicon Canals) - With a population of just under 17.5 million people, the Netherlands is punching above its weight when it comes to Fintech – it is the eighth largest hub in the world, according to a new Global Fintech Talent Report for 2022. 
  • “How AI and data fusion are turning the tide in the battle against modern slavery” via (Fintech Futures) - Organised crime that involves indentured labour remains big business, amassing an estimated $50-150 billion annually. And the problem is far closer to home than many realise.
  • “Hard lessons from the crypto crash” via (Financial Times) - We deal with all kinds of financial problems on the Money Clinic podcast, but after speaking to young traders who lost their shirts in the $40bn wipeout of crypto token luna, I found it hard to offer them any solutions
  • “Banks need to know their customers better than ever, but how do they do this?” via (Fintech Futures) - We live in an age of big data and instant information, with the potential for companies to know their customers and understand their exact needs in deeper detail than ever before.
Read more about analysis and opinion here.
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