FinTech Daily News – Edition 9, 14.07.2017
July 14, 2017
FinTech Daily News – Edition 11, 18.07.2017
July 18, 2017

FinTech Daily News – Edition 10, 17.07.2017

FinTech Daily News

by Florin Oprea

Edition 10, 17.07.2017

Deals, Investments & M&As

German Fintech Startup Naga Finalizes IPO

Shi Jing – Chinadaily

German fintech startup Naga Group AG completed its IPO in the Frankfurt stock exchange segment “Scale” on Monday, seeing its price jump 157% on the first trading day.

FAO: The company raised $12.5M in March in a Series A funding round led by China’s Fosun Group.

Payments

Euronet Keeps Stirring The Pot On Competitor’s Sale To Alibaba Unit

Elise Reuter – Kansas City Business Journal

Euronet Worldwide Inc. is stirring the pot again after a Chinese financial company refiled to acquire the Leawood electronic payments company’s competitor.

US And European Leaders Finally Agree On Something: Suspicion Of Chinese Takeovers

John Detrixhe – Quartz

It hasn’t been an easy year for cross-Atlantic diplomacy, if the G20 summit earlier this month is any indication. One thing leaders in the US and EU seem to agree on, however, is the need to boost oversight of corporate takeovers by Chinese companies.

FAO: Two articles discussing Alibaba’s Ant Financial last week’s refiling for regulatory approval of a deal to buy MoneyGram International Inc. for $1.2 billion.

Lending

Funding Circle Germany Takes a Fresh Start

Therese Torris – Crowdfund Insider

Germany is a huge SME and VSME (very small business) credit market. But it is not as mature a market for online marketplace lending as the UK, the US, or even the Netherlands. This partly explains why Funding Circle Germany’s early loan book underperformed. Now the platform is starting afresh to match its market’s reality.

FAO: Discussing Funding Circle position and strategy for Europe.

Wealth & Personal Finance

JPMorgan Is Said To Have Explored Buying Robo Adviser In 2015

Julie Verhage – Bloomberg

JPMorgan explored acquiring robo-adviser SigFig Wealth Management LLC in 2015 to speed up its technology push. The conversations took place before SigFig agreed to a partnership with UBS Group AG’s Americas wealth-management business in 2016.

FAO: AHA! Other investors in SigFig include Bain Capital Ventures and Union Square Ventures, among others. The company raised around $67m in multiple funding rounds in the last 4 years.

Allfunds Launches New Fintech Platform

Eugenia Jimenez – International Investment

The API platform goes beyond offering a fully digitised access to the company’s range of fund services, to also provide access to third party applications using standardised APIs, which comply with emerging regulatory norms such as Mifid II.

FAO: In March 2017 GIC, Singapore’s sovereign wealth fund, and affiliates of Hellman & Friedman signed a 1.8bn euros deal to acquire Allfunds Bank from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warburg Pincus.

FinTech People

Via VC Circle – Lendingkart Finance Ltd, the non-banking finance arm of fintech company Lendingkart Group, has elevated VP of finance Piyush Kabra as the company’s CFO

FAO: Lendingkart raised $7.7m debt from Yes Bank, reported last month, during our soft launch.

Regulation

Singapore Regulators Apply ‘Sandbox’ To Support Local Fintech Start-Up

Takashi Nakano –  Nikkei Asian Review

The “regulatory sandbox” system, which suspends regulations on a trial basis at the request of businesses, is a key part of the growth strategy the Japanese government worked out this year. Similar systems are already in use elsewhere in the world.

Central Bank to Finalize Fintech Regulations

Financial Tribune

In light of the importance of regulating fintech firms to prevent any problem in the monetary market, the Center for E-Commerce Development’s deputy, Faranak Oskouei, has announced that the Central Bank of Iran will define the framework of fintech operations by the end of summer.

Accelerators & Hubs

Hong Kong’s Central Banker Adds Fintech To priorities To Burnish City’s Role As Financial Hub

Enoch Yiu – South China Morning Post

HKMA Chief wants financial industry stability – a tough job in the age of fintech disruption and Chinese expansion.

FAO: Profile of Hong Kong Monetary Authority Chief Executive Norman Chan Tak-lam.

The Surprising Country Leading The Fintech Revolution

Sushmita Pathak – OZY

Israel has the highest adoption of fintech products, according to Blumberg Capital report “The Ways We Pay”.

FAO: Useful data – 50% adults in Israel use mobile banking apps compared to 38% in the US, 37% in the UK, 35% in France and only 28% in Germany. Also remember the EY  “Fintech Adoption Index 2017” published last month and published during our soft launch.

Fintech Startups Are Disrupting Mexican Financial Services By Banking The Unbanked

Dennis Price – Impact Alpha

Fintech startups offering digital payment, remittances and lending services, could capture 30% of Mexico’s banking market within 10 years, according to Finnovista, a fintech accelerator.

FAO: Interesting research study from Mexico. Six in ten Mexicans are unbanked.

How Boston Fintech is Boosting like the Major Global Fintech Hubs

Angela Scott-Briggs – Tech Bullion

Boston, the capital and most populous city of the Commonwealth of Massachusetts in the United States, is doing really well in fintech. The Boston Fintech ecosystem has the people, companies, pipeline, money, and resources which are essential ingredients of a fintech ecosystem, placing Boston on the right footing to compete with global fintech hubs.

FAO: Here’s an article, published last week, discussing Boston’s way further in fintech.

Analysis

PwC: Fintech Survey China 2017

JD Alois – Crowdfund Insider

PwC has recently published a report on the status of Fintech in China, the largest Fintech market in the world.

The global average of expected annual return on Fintech Investment stands at 20%. Europe is below average at 14%. North America slightly above at 23%. China leads the pack as it expects a 38% return on Fintech related investment.

Other news

PBOC Calls Upon Fintech Firms To Help Fund System To Monitor Online Transactions

Daniel Ren – South China Morning Post

China’s central bank has urged fintech companies to help pay for a government-controlled monitoring system to watch over financial transactions on the internet.

Opinion

The Approaching Fintech Flip

James Rundle – Waters Technology

Incumbent vendors may turn the table on fintech upstarts, once regulation begins to calm down.

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News