FinTech Daily News – Edition 149, 14.02.2018
February 14, 2018
FinTech Daily News – Edition 151, 16.02.2018
February 16, 2018

FinTech Daily News – Edition 150, 15.02.2018

FinTech Daily News

by Florin Oprea

Edition 150, 15.02.2018

New Beginnings In Global Financial Markets: Signal Of Crisis Or Maturity?

Florin Oprea, Decebal Todarita and Jeff Kutler – Linkedin Pulse

FAO: Read our opinion on recent market volatility and what this could mean for the future of the cryptoverse.

Deals, Investments & M&As

NepFin Launches Online Commercial Lending Platform; Secures $10 Million Through Series A Funding Round

Samantha Hurst – Crowdfund Insider

Neptune Financial announced it has launched its very own online commercial lending platform for mid-sized U.S. businesses. Also, it has raised a $10-million Series A round led by Sands Capital Ventures with participation from its existing investors.

FAO: Total funding reaches $13m from two rounds, with a previous one in January 2017.

Payments

Swedish Online Payments Company Klarna Shuts Down Tel Aviv Development Center

Hagar Ravet – CTech

Klarna Bank AB will be shutting down its Tel Aviv development center during the next few months. All 31 of its employees in Tel Aviv were offered the opportunity to remain with the company and relocate to one of its Swedish or German offices.

FAO: That’s a classic. But how many would actually move from Israel to Sweden or Germany offices? How about doing it in the same financial terms?

Insurance

Tencent Will Soon Sell Insurance To Hong Kong Residents With New Online Tie-Up

Laura He – SCMP

UK insurance giant Aviva and its partners, Chinese internet major Tencent Holdings and private equity fund Hillhouse Capital, have received regulatory approval to launch a digital insurer.

FAO: The j.v.’s structure: Tencent 20%, Hillhouse 40% and Aviva 40%.

Retail banking

It’s Getting Harder to Tell Banks From Tech Companies

Matt Levine – Bloomberg (subscription)

Goldman Sachs CEO Lloyd Blankfein presented at the Credit Suisse Financial Services Conference, and his presentation is kind of a weird read. The running theme is that Goldman is doing technology stuff to win business. “Engineering underpins our growth initiatives,” says a summary page, and it doesn’t mean financial engineering. In fixed income, currencies and commodities, engineers are 25% of headcount, and the presentation touts growth in Marquee (its client-facing software platform) and “systematic market making.”

FAO: I don’t know why this is considered “weird”. Let’s face it, banks need to progress. They need to stay connected with the economy and the specifics of the contemporary society. And if you look to Asia these days, and see what’s coming, you would understand why big banks are steadily jumping in tech…And there’s another thing, of course. The banks’ investments in fintech could bring increased efficiency and rising profitability, BUT will eventually lead to job cuts…  

Latest Developments & Agreements

Singapore, Egypt Sign Fintech Cooperation Pact

Kenneth Lim – Straits Times

The Monetary Authority of Singapore and the Central Bank of Egypt may refer fintech companies to each other so that the companies can better understand the regulatory regime in each country.

Silicon Valley Bank & First Data Welcome Class 7 of Commerce.Innovated Accelerator Program

Samantha Hurst – Crowdfund Insider

Silicon Valley Bank and First Data announced on they have selected five startups to participate in Class 7 of Commerce.Innovated., an accelerator program that was designed to help commerce, payments, and fintech companies grow their businesses.

Regulation

House Backs Bill That Would Benefit Fintech Partnerships With Banks

Lalita Clozel – The Wall Street Journal (subscription)

The House approved a bill that would make the resale of high-interest loans more attractive to third-party buyers such as debt collectors—and bolster fintech firms’ partnerships with banks.

FAO: See, everybody knows banks need to change. And they are strongly encouraged to partner fintechs.

Accelerators & Hubs

Malaysian Startup Accelerator Looks For Potential In 14 Cities

Tech Wire Asia

The Malaysian Global Innovation & Creativity Centre has just launched the second batch of its Global Accelerator Program. Started with a mission to build a strong startup community in Asean, MaGIC’s program aims to accelerate global startups to be investment-ready in four months.

Events

Africa FinTech Summit August 16-17 2018 – Accra, Ghana – Agenda here

FAO: I am one of the speakers at the event, you can check the entire list of speakers here. Please note that I am building up my agenda for 2018 – if you want me as a speaker at your events better get in touch before my year gets uber busy – contact me here.

Analysis

Brexit A Boon For Lithuania’s ‘Fintech’ Drive

The Business Times

Britain’s divorce with the European Union is paying off for Lithuania as it strives to become a northern European hub for fintech firms, and blockchain-based start-ups.

FAO: We had several articles on the topic – why don’t you use our FREE ARCHIVE to check them…

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News