Nov 6, 2020

Global FinTech News - 6th of November

By Holland FinTech • Issue #71 • View online

Hello, reader!

For this week, much excited because of the close call in the US election results, we bring you further trends and insights from fintech to dive into. Keep up with the latest news and browse through the materials we selected for you. Interested to find out what the experts are discussing? Or perhaps you’re looking for the newest statistics figures? Enthusiastic to discover the most recent investment rounds? Do you have an innate curiosity to stay up to date with the fintech ecosystem? Then we invite you to explore our reading revolving around analysis & opinion, research, funding rounds and news.

And in case you missed our Flash Friday edition of today, co-hosted by Gijs Boudewijn, Deputy General Manager - Dutch Payments Association, and Don Ginsel, our Founder & CEO, check out our YouTube channel here!

Highlights from last weeks news related to fintech

Weekly News Highlights - 5 November 2020

Our selection of remarkable news from the industry.

Coinbase is launching its debit card in the US and starting a competitive crypto payments race with PayPal
Ant Group’s IPOs on the Shanghai and Hong Kong stock exchanges are on hold, due to regulatory concerns raised by the Chinese government
ZenGo, a crypto wallet provider, announced its plans to launch a Visa debit card in the US
PAYMYNT Financial, a financial growth app, filed a patent application for its upcoming Universal Rewards System
Nordic Capital, a private equity investor, acquired BearingPoint’s RegTech division, a provider of regulatory reporting services in the DACH region
Strive, a challenger bank designed for families, has announced the acquisition of GoSave, a digital piggy bank company
The Australian Central Bank announced partnerships with several banks and ConsenSys to find possible usage and implications for the central bank digital currency (CBDC) using distributed ledger technology (DLT)
Mastercard has launched a new service designed for banks to evaluate cyber risks throughout their ecosystems
Chime, an US challenger bank, reported an 8 hour outage with their mobile apps and website last week
NerdWallet, a personal finance management provider, acquired Fundera, a marketplace for small business financial solutions
Logiq, a provider of AI-powered workforce intelligence, has partnered up with Koperasi Mona Santoso Berjaya (KMSB), Indonesia’s social security programme provider to launch microfinance

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 - 4 November 2020

We have again looked across all oceans to find all investments that are relevant for the financial industry and listed the largest below. Cut off time: 4 November. This is just the tip of the iceberg.

Conductor (Barueri, Brazil), a card issuer and banking-as-a-service platform, has raised $150 million (€128.04m)
Jiko Group (Oakland, CA, US), a fintech company that automatically invests money in liquid US government-backed securities, raised $40 million (€34.14m)
Tomo Networks (Stamford, CT, US), a digital mortgage and transaction startup, raised $40m (€33.67m) in seed funding
Marshmallow (London, UK), an insurtech company, has raised a $30 million (€25.25m) round of funding
Clarity AI (New York, US), a fintech startup focused on developing technology that analyses the social impact of companies and investments, has raised $15M (€12.8M)
Funding U (Atlanta, GA, US), a private student loan company, closed a $14m (€11.79m) debt and equity funding
Wise (San Mateo, CA, US), a business banking challenger, has raised a $12 million (€10.24m) Series A round
Transcend (New York, US), a provider of business optimization solutions for financial firms, closed a $10m (€8.54m) Series A financing
Goodcover (San Francisco, CA, US), an insurance agency which returns unclaimed premiums to policyholders at the end of the year, has closed a $7.5 million (€6.31m) Series A funding round
Keyrock (Brussels, Belgium), a developer of crypto asset financial infrastructure, has raised €4.3 million in funding
Authentic Vision (Salzburg, Austria), an anti-counterfeiting and authentication technology provider, has closed a $5 million (€4.27m) Series B
Statrys (Wan Chai, Hong Kong), a fintech company aimed at providing services for SMEs, has raised $5 million (€4.27m) in a funding round
3Commas.io (Tallinn, Estonia), a crypto-asset management platform, raised $3M (€2.56m) in Series A financing
Arcus (New York, US), a FaaS (Fintech-as-a-Service) company, announced an investment from Citi Ventures for an undisclosed amount
Other fundings we found interesting for this week: GetYourGuide (€111.96m), Pulumi (€31.57m), Donut (€10.10m)

Read more about this funding news HERE.

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A selection of recent research reports and papers worth reading

Weekly Research Highlights - 3 November 2020

Please check out these research reports and white papers we discovered this week.

A report from Plaid, “The Fintech Effect: Spotlight on COVID-19”, highlights the major challenges that fintech has been undergoing, and its economic impact
“Portugal Fintech Report 2020” presents an overview of the Portuguese fintech ecosystem - statistics, main drivers, trends
Finextra, FICO and Amazon Web Services (AWS) showcase in their most recent study the role of Personalization-as-a-Service for banking and payments
“The Global Covid-19 FinTech Regulatory Rapid Assessment Study” shows how Covid-19 is impacting financial regulators’ approach to fintech and digital financial services (DFS)
“The State Of Fintech Q3’20 Report: Investment & Sector Trends To Watch” by CB Insights investigates global fintech investment trends in finance
The “Task Force on Climate-related Financial Disclosures: 2020 Status Report” by TCFD shows a series of recommendations regarding climate change and business practices
The “CEO Monthly Market Update & Analysis” by FT Partners includes latest highlights on fintech Q3’20, historical fintech financing, IPO, M&A volume and deal count statistics
“The future of life insurance: Reimagining the industry for the decade ahead” report by McKinsey offers advice and solutions that insurers can implement in practice in order to enhance their offerings and attract customers’ attention
MSC and BSR’s HERproject present an overview on the financial behavior of low-income women in global supply chains
According to CB Insights, the insurtech industry sees a recovery, with further 104 deals closed and over $2.5B raised

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 - 2 November 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 Joe Bloemendaal, head of strategy at Mitek, Covid-19 has facilitated the rise of fraudulent activities
Emma Olsson, fintech reporter at Bobsguide.com, emphasizes the issue that comes with sustainability and challenger banks
According to Chris Skinner, independent commentator on the financial markets, the digital environment is on the rise, bringing new changes in the financial behavior of consumers
When it comes to insurance, Andrew Jenkins, Principal in the CIO & Technology Officers Practice at Odgers Berndtson, explains future obstacles that CIOs will face over the next 12 months
Nick Catino, Head of Policy at TransferWise (Americas), argues that the US should not only allow depository institutions (like banks) to be part of the payment systems, but also payment firms
In a recent interview hosted by The Fintech Times, Noha Shaker, the founder and Secretary General of the Egyptian FinTech Association, speaks exclusively about Egypt and its fintech ecosystem
According to Thomas Pintelon, co-founder at Capilever, the existing investment services and products for consumers are focused more on personalization
In a recent analysis from TechCrunch, series A funding for fintech is at the crossroads
According to Insurance Innovation Reporter, when it comes to the insurance sector, digitalization and adoption of new technologies are remaining behind

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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Future of Fintech by CB Insights - 16th-18th November

With 5 content streams, 60+ fireside chats, 50+ presentations, and exclusive CB Insights research, Future of Fintech will illuminate the companies, technologies, and trends shaping banking, payments, lending, wealth management and insurance.

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European Capital Markets Technology & Innovation Virtual Series - 16th-20th November

The AFME European Capital Markets Technology and Innovation Conference is the leading event for the European capital markets industry to debate strategic technology and operations change.

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Node by Slush – Community Event #3 17th-19th November

Node by Slush is gathering the community together to meet, discover and learn together - 100% online. Come and take a peek into our speaker lineup!

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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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Open Banking Expo Digifest - 24th-26th November

Join us for content and speakers you’ve never seen or heard before, innovators, disruptors and visionaries that you have, but with their latest foresight and knowledge, unique content delivery to keep you awake at your desk and so much more!

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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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By Holland FinTech

Global Fintech News

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