FinTech Daily News – Edition 105, 29.11.2017
November 29, 2017
FinTech Daily News – Edition 107, 05.12.2017
December 5, 2017

FinTech Daily News – Edition 106, 04.12.2017

FinTech Daily News

by Florin Oprea

Edition 106, 04.12.2017

Payments

Payments Landscape In Germany: Opportunities And Risks To 2021

Business Insider

GlobalData’s “Payments Landscape in Germany: Opportunities and Risks to 2021”, report provides detailed analysis of market trends in the German cards and payments industry.

FAO: A detailed analysis of the payments sector in Europe’s biggest economy.

Lending

China Cracks Down On Online Micro-Lending Firms With New Rules

Reuters

China’s Lending Crackdown Is Notable for Three Reasons

Junheng Li – Bloomberg

Policy makers from the People’s Bank of China and the China Banking Regulatory Commission convened in Beijing to discuss new measures to crackdown on online consumer loan platforms, including those for payday loans and peer-to-peer lending. Alibaba Group affiliate Ant Financial said it will enforce a cap of 24% on interest rates charged by lenders on its website, or 12% points lower than current rates.

FAO: The Chinese regulators are trying to “shape” micro-lending as the sector experienced a rapid growth in the last few years. After their success back home many of these platforms started looking at overseas markets to list their shares. Yes, Qudian and PPDAI are only two of them.

DNT: More information about  Ant Financial decision to ban high interest loan products, hereLending Section.

China Fintech Lending Boom Fuels Risks Of Data Theft

Gabriel Wildau, Yizhen Jia – Financial Times (subscription)

The rise of online consumer loans in China has spawned a thriving black market in stolen user data. Virtually non-existent in the country five years ago, consumer lending through websites and mobile apps has expanded rapidly over the past 18 months amid a proliferation of fintech start-ups that use big data to assess credit risk.

Business tech

Mildford Demands NZX Action On Xero Delisting

Tim Hunter – NBR

Fund manager Milford Asset Management has written to the NZX, demanding it requires software company Xero to hold a shareholder vote before delisting or buy back its stock at $34.05

DNT: In November, Business tech Section, we reported about Xero’s plans to move to ASX. Check also here, for an analysis of this move and the reasons behind it.

FinTech People

Peter Thiel’s Powerful Tech Network Reportedly Predates PayPal And Goes Back To A College Newspaper

John Shinal – CNBC

Peter Thiel has connections across Silicon Valley thanks to ties he forged as co-founder and CEO of PayPal more than 15 years ago. Dubbed the “PayPal Mafia,” the group includes some of the region’s most successful entrepreneurs, such as Elon Musk, Reid Hoffman, David Sacks, and Max Levchin.

FAO: Apparently Thiel co-founded a publication called the Stanford Review. A rival publication, Stanford Politics, revealed that at least 23 former staffers from Thiel’s paper are connected to Palantir, the data analytics start-up that has/had contracts with US Department of Defense, the NSA and the CIA…Now Thiel is being considered by Trump for a position on the President’s Intelligence Advisory Board…hmmm…

Via CNBC – Stripe has hired David Singleton, the man leading Google’s Android Wear and Google Fit teams, to be its new head of engineering

Welcome To The Club: Buterin In Bloomberg’s 50 Most Influential 2017

Simon Golstein – Finance Magnates

The once niche world of cryptocurrency continues to make inroads into the mainstream as Vitalik Buterin, founder of Ethereum, is featured on Bloomberg’s 2017 list of the world’s 50 most influential people.

FAO: If you and Buterin “weren’t properly introduced” until now, then it’s time you start reading Blockchain Daily News more often.

Regulation

Fintech Could “Undermine Financial Stability”, MAS Says

Assia Asset Management

The Monetary Authority of Singapore is warning that fintech firms may hurt financial stability, even though they are widely perceived as a driver of innovation. In its Financial Stability Report, MAS says that fintech has the potential to “undermine financial stability by creating greater or new imbalances and contagion channels”.

FAO: But a pertinent vision and a detailed strategy will help the city-state overcome risks and become a global leader in fintech. Its constant presence in our daily publication denotes this. Last month, during the FinTech Festival, a set of initiatives were publicly announced. Check more info here.   

The Hong Kong Monetary Authority Has Launched A Fintech Chatroom

JD Alois – Crowdfund Insider.

The Hong Kong Monetary Authority has launched a “Fintech Supervisory Chatroom” designed to provide regulatory feedback to Fintech firms and authorized institutions.

Accelerators & Hubs

Lithuania’s ‘Fintech’ Drive Gets A Brexit Boost

Emma Rumney – Reuters

Lithuania’s drive to become a centre for fintech firms has been given a boost by Brexit and more industry players could set up in the small Baltic nation as it builds a critical mass of expertise.

DNT: We have expressed our admiration for the Lithuanians several times and even named Lithuania a fintech-friendly country. So, it’s no wonder if after Brexit more and more players search this favourable regulatory environment. More here and here, Accelerators and Hubs Section as well.

Dubai, The Capital Of Fintech Innovation

The Telegraph

Dubai’s growing sphere of opportunity encompasses the fast-growing Middle East, Africa and South Asia (MEASA) markets, which are experiencing significant demographic shifts and have younger, more technologically savvy populations.

FAO: The Dubai International Financial Centre recently launched a $100 million fund focused on fintech.

UniCredit CEO, Jean Pierre Mustier: London To Remain Europe’s Financial Centre

Paul Hodkinson – Financial News

No single European city will rise up to replace London as the continent’s premier financial centre after Brexit, according to the chief executive of Italian banking giant UniCredit. Jean Pierre Mustier said: “I don’t think we are going to see a big revolution. London will remain an important centre for expertise. There will be no one winner in continental Europe replacing London.”

DNT: Hmm, recently I’ve heard that Frankfurt has a nice weather, and the reports were favourable for Paris too..

FAO: A short note here – Italy’s stock exchange, Borsa Italiana, is owned by London Stock Exchange Group…Ahem… At the same time, I reckon even Milan has high ambitions in the post-Brexit era as it has launched its  “Fintech District” earlier this year.

Swedbank, Startup Wise Guys To Run Joint Accelerator Program In Riga

The Baltic Course

Swedbank will be hosting Wise Guys Fintech – a fintech startup accelerator program by Startup Wise Guys in Swedbank’s premises in Riga, Latvia. Through each program, ten international startups will get the opportunity to spend up to six months in a fast-paced learning environment, grow their business and connect to banking experts and mentors.  

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News