FinTech Daily News – Edition 143, 06.02.2018
February 6, 2018
FinTech Daily News – Edition 145, 08.02.2018
February 8, 2018

FinTech Daily News – Edition 144, 07.02.2018

FinTech Daily News

by Florin Oprea

Edition 144, 07.02.2018

Deals, Investments & M&As

Venture Investment In UK Fintech More Than Doubles

Martin Arnold – Financial Times (subscription)

UK Fintech VC Investment Hit A Record In 2017 As China Falls Behind

Lynsey Barber – City A.M.

The year saw $1.8bn (£1.3bn) of cash flow into startups working on innovative fintech a rise of more than 150% on 2016 and a bigger increase than either the US or China.

FAO: What’s important to note here is that more than half of the cash came from outside the UK. London financial centre’s top spot position in global rankings is clearly the foundation here, the increase however is a sign that investors are still confident that The City will, at least, keep its spot even in the event of a Brexit. UK has a good ally, as always, since 25% of the cash injected in London’s fintech came from North America. Beware Paris, Frankfurt, Berlin, Amsterdam and others! This will be a pretty fierce “fight”.

Business tech

Xero Boss Breaks ASX Bell

Myriam Robin – Financial Review (subscription)

And so, like most good things out of New Zealand, Xero became an Aussie.

FAO: Guess it’s “G’day, mate” for Xero…

Retail banking

Choosing A Bank Is About To Become As Ruthless As Shopping For Flights, Taxis And Hotels

John Detrixhe – Quartz

With a Raisin account, users can shift their money to banks in 31 different countries to get the best interest rate. The company has attracted more than €5 billion ($6.2 billion) of assets since launching in 2013. The company doesn’t have a banking license, though it does use white-label bank providers to handle things like money laundering regulations. Instead, it’s an Uber- or Skyscanner-like digital service where customers can transfer funds to 40 partner banks via a single interface.

FAO: Have you visited a bank (any bank) branch recently? Why? And if you did, what was your impression? The future of finance is already here. Don’t be afraid to embrace it.

FinTech People

The Antisocial Network: How Silicon Valley Became A Male Domain

Hannah Kuchler – Financial Times (subscription)

Brotopia runs the risk of being dismissed as “the Silicon Valley sex party book”. But Brotopia goes far beyond the salacious to offer an important examination of why the technology industry is so dominated by men — and how women are pushing back.

FAO: More and more echoes after the mega-scandals hitting the Valley last year. Use our FREE ARCHIVE for last year coverage. More about Emily Chang’s book, ‘Brotopia’, here.

Via Crowdfund Insider – GoldMoney appointed Steve Fray as CFO & Board Member

DNT: Fray, who previously served as Senior Vice President of Finance and Operations will replace Josh Crumb, who remains Chief Strategy Officer and Director, as we are informed in the 

Latest Developments & Agreements

Barclays Hosts Fintech Accelerator Program Demo Day In New York

Samantha Hurst – Crowdfund Insider

Barclays announced that after three months of intensive product development, mentoring, and networking, the nine companies of its New York accelerator program are set to showcase their fintech proposals at a demo day.

Regulation

U.S. States Join Forces On Fintech Licenses

Reuters Staff – Reuters

Banking regulators of seven U.S. states have agreed to simplify the way fintech companies can apply for licenses, in a bid to make it easier for businesses to offer their services nationwide.

FAO: Georgia (home of the Intercontinental Exchange), Illinois (home of CME Group, and CBOE Group), Kansas, Massachusetts (home of MIT), Tennessee, Texas and Washington.

India – Maharashtra State Cabinet Gives Nod To Fintech Policy

India Express

Maharashtra has become the first state in the country to adopt a comprehensive fintech policy that aims to foster an environment for fintech startups.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News