FinTech Daily News – Soft launch Edition #12, 06.06.2017
June 6, 2017
FinTech Daily News – Soft launch Edition #14, 08.06.2017
June 8, 2017

FinTech Daily News – Soft launch Edition #13, 07.06.2017

FinTech Daily News

by Florin Oprea

Edition #13, 07.06.2017

Deals, Investments & M&As

Y Combinator Will Accept 10,000 Startups To Prove There’s Nothing Magical About Silicon Valley

Michael J. Coren – Quartz

Y Combinator was a heretic among venture capitalists when it backed its first eight companies in 2005. Co-founder Paul Graham later wrote that his philosophy was that “investors should be making more, smaller investments, they should be funding hackers instead of suits, and they should be willing to fund younger founders.”

FAO: Y Combinator funded almost 1500 startups in 12 years.

Payments

Should PayPal Be Worried About Apple’s Peer-to-Peer Payment Service?

Zacks

Apple unveiled its new peer-to-peer mobile payment service at its annual Worldwide Developers Conference on Monday. Now that the world’s largest technology company has entered into the scorching hot, millennial-driven payment market, should the rest of the mobile money-moving industry be nervous?

FAO: Oh yeah…

Poland – Banks’ Homegrown Efforts Dominate Poland’s Fintech Scene (sub)

Zosia Wasik – Financial Times

Poland’s most popular mobile payments service was not created in a garage or innovation lab. It was designed around a conference table by the heads of country’s six biggest banks, who had decided the market needed a new service.

FAO: It’s called BLIK and it has more than 4m users in Poland. Quite a popular service.

Why Trustly CEO Oscar Berglund Is Offering An Alternative To Credit Cards

Nikolai Kuznetsov – Forbes

Having processed a whopping €3.2 billion in transactions in 2016, payment startup Trustly has recently emerged as a leader in the global fintech scene. Based in Stockholm, Trustly offers a fresh perspective on payments by putting the bank account at the center of digital payments instead of credit cards. The company is now used in 29 European countries, enabling merchants to perform cross-border business easily.

Lending

Atom Bank Postpones Current-Account Launch (sub)

Laura Noonan – Financial Times

The Financial Conduct Authority (FCA) recently launched a review of current accounts, which will not deliver initial findings until next year.

This has opened the possibility of further restrictions for current account providers just a year after the Competition and Markets Authority finished its own two-year review of the staple banking product.

FinTech People

via NBR – Xero signalled director Craig Elliott won’t seek re-election at next month’s meeting after five years on the company’s board.

via press release – Digital wealth management firm Personal Capital announced that former Securities and Exchange Commissioner and advocate for investors small and large Luis A. Aguilar has joined the company’s Board of Advisors. –

via Crowdfund Insider – Deutsche Bank has hired Tommaso Zanobini as Managing Director and Global Head of Fintech, a jv between Deutsche Bank’s FIG and TMT banking team.

Latest FinTech developments & agreements

Crowdsurfer Adds Zopa Data

Finextra

Crowdsurfer, the world’s most comprehensive source of intelligence on the global alternative finance market, has announced that Zopa has become the latest peer-to-peer lender to submit its data to the Crowdsurfer analysis.

FAO: An important “acquisition”. Last week we reported that the UK firm raised £32m to launch a bank.

Regulation

CFTC Engages ‘Fintech’ World Seeking Better Oversight, Compliance

Henry Engler – Reuters

The U.S. Commodity Futures Trading Commission has taken a lead among fellow American regulators in its “LabCFTC” initiative to engage emerging fintech and regtech companies. The effort seeks to enhance the agency’s oversight of commodity and derivatives markets, but also to make compliance and regulatory reporting more effective for the industry participants.

FAO: More commentary on CFTC fintech initiative. Also covered last week.

Accelerators & Hubs

TransferWise CEO: ‘There Is A Huge Fight To Be The Fintech Capital Of The World’

Oscar Williams-Grut – Business Insider

The CEO and cofounder of TransferWise says cities around the world are becoming increasingly competitive in attempts to attract tech companies.

FAO: After Brexit vote, Paris and Luxembourg try to attract more fintech firms.

Polish Fintech Companies Face Brexit Dilemma (sub)

Zosia Wasik – Financial Times

Entrepreneurs are worried it will become hard to do business in the UK.

Plug and Play Launches the First Startup Accelerator in Tokyo

PRNewswire

Plug and Play will launch the first startup accelerator program in Tokyo this fall, partnering with Mitsubishi UFJ Financial Group (MUFG).

Maybank Launches Asean’s First FinTech Ecosystem

The Star

Analysis

PayPal: Still Growing And Still Attractive To Some Investors

Seeking Alpha

An aggressive scenario in our valuation model shows an upside potential up to 15%, while our base scenario suggests that the company’s shares are fairly valued.

 

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