by Florin Oprea
Julie Verhage – Bloomberg (subscription)
Fintech startups are grabbing a greater share of capital from investors. Now Bono is getting in on the action.
DNT: Ohhhhhh, U2, Bono? 🙂 Welcome!
FAO: Looks like Bono finally “found what he was looking for”…Acorns is being integrated into the PayPal, as announced last year.
Reuters Staff – Reuters
China’s commerce ministry said protectionist sentiment is rising in the U.S. after Chinese company Ant Financial’s plan to buy U.S. money transfer company MoneyGram International Inc collapsed.
FAO: Ant Financial has recently abandoned its $1.2 billion purchase of MoneyGram International – reported in our Winter Holidays News Round-Up.
Tatjana Kulkarni – Bank Innovation
German online lender Kreditech is making its way to India. For this expedition, the fintech has teamed up with SaaS banking platform Mambu for providing short-term lending products specifically tailored to local consumers.
FAO: Global online payment service provider PayU has invested $123m in Kreditech last year – check this May 2017 soft launch edition of our bulletin for more details regarding this deal.
Ben McLannahan – Financial Times (subscription)
Lending Club has all kinds of problems: a history of profit warnings, faint traces of scandal after a management upheaval almost two years ago, and a share price still more than 80% adrift from its peak. Add to that list: a bizarre, crypto-fuelled activist campaign waged by a Las Vegas-based payday lender called Paul Mathieson, who told authorities in his native Australia that he fled to America in 2008 because he feared being killed by a mobster.
FAO: OMG this would make a hot Hollywood movie script…
Sharon Adarlo – Financial Planning
Underlying the harsh online criticism lobbed at Wealthfront after its $75 million funding announcement was industry bewilderment over why robo advice platforms are still attracting millions in investment.
FAO: Better ask some big banks…
Julia Limitone – Fox Business
Millennials are turning a blind eye to banks and betting on bitcoin to boost their portfolio, according to Wealthsimple CEO Michael Katchen, a millennial investment specialist.
FAO: Oh, didn’t know there are millennial investment specialists now. How come nobody called me yet?
GMEX Technologies announced that it has partnered with Colt Technology Services to deliver the GMEX Exchange-in-a-Box over the Colt PrizmNet financial extranet.
Addressing the growing demand from market participants to segregate or create their own matching systems, the solution delivers Central Limit Order Book and Request for Quote capability, alongside the latest CCP and CSD market infrastructure.
FAO: Good move, win-win…
Dominic Powell – Smart Community
Seven Australian equity crowdfunding platforms, including Birchal, OnMarket and Equitise, have received Australian Financial Services licences for crowd-sourced equity funding services, opening the door to a new form of funding for startups and businesses locally.
FAO: Better late than never…
Via BBC – Non-executive director of Marketing Edinburgh, Stephen Ingledew to head up FinTech Scotland.
Caroline Hudson – Charlotte Business Journal (subscription)
The Carolina Fintech Hub — which came together toward the end of 2017 to support Charlotte’s growing fintech industry — is quickly moving out of its own startup phase.
As new technologies such as AI and DLT transform the capital markets landscape, the World Federation of Exchanges has called on regulators to hold new fintech entrants to the same standards as established players.
Via PRNewswire – FinTech South Conference Coming to Atlanta May 7-8, 2018
FAO & DNT: Enjoy your weekend!
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News