FinTech Daily News – Edition 152, 19.02.2018
February 19, 2018
FinTech Daily News – Edition 154, 21.02.2018
February 21, 2018

FinTech Daily News – Edition 153, 20.02.2018

FinTech Daily News

by Florin Oprea

Edition 153, 20.02.2018

New Beginnings In Global Financial Markets: Crisis Or Maturity

Florin Adrian Oprea, Decebal N. Todăriță & Jeffrey Kutler – GARP

FAO: Read our opinion on recent market volatility and what this could mean for the future of the cryptoverse. We first published it on Linkedin Pulse on Feb 13th. Now you can read it on Global Association of Risk Professionals’ website!

Deals, Investments & M&As

ING-Diba To Acquire Fintech Lender Lendico As It Pushes German Ambitions

Darrell Delamaide, Frank Drost & Katharina Slodczyk – Handelsblatt Global

The unit of the Dutch ING Group announced it will acquire Lendico, a lending platform launched in 2013 by the tech incubator Rocket Internet. Terms were not disclosed and the purchase requires approval from Germany’s antitrust authorities.

FAO: Last year Lendico has signed a cooperation with solarisBank, the first digital banking platform with a full banking licence – reported here.


Alibaba, Tencent Rally Troops Amid $10 Billion Retail Battle

Adam Jourdan – Reuters

China’s tech giants Alibaba and Tencent worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets.

FAO: Yesterday we added reports from the “Indian front”, where the payments war broke out between Paytm, WhatsApp and Google Tez…

‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far

Amanda Billner – Bloomberg

“No cash accepted” signs are becoming an increasingly common sight in shops and eateries across Sweden as payments go digital and mobile. But the pace at which cash is vanishing has authorities worried. A broad review of central bank legislation that’s under way is now taking a special look at the situation, with an interim report due as early as the summer.

FAO: Why worry? This is progress. Btw, in this country even the Church is investing in tech startups – more here.

Retail banking

Global Regulators Neutral On New Rules For ‘Hyped’ Fintech

Huw Jones – Reuters

Global banking regulators signaled they were in no rush to adapt their rules to fintech firms that have begun nibbling away at banks’ markets. The regulators looked at how fintechs could disrupt banks’ business models by offering payments services, crowdfunding, mobile banks and online trading.

Banks Tackle Fintech Challengers As They Struggle To Be Preferable To A Dentist Visit

Nick Abrahams – Financial Review

According to the Millennial Disruption Index, 71% of young people would rather go to the dentist than listen to what their bank is saying, and new research from Viacom’s research arm, Scratch, finds a third of Millennials expect to be bank-free in the near future. Meanwhile 75% say they would prefer financial services from start-ups and tech companies such as Apple or Google.

DNT: It seems the pain is smaller at the dentist than at the bank…Now, seriously, the banks (not only in Australia) must face the fintech challenges and embrace them if they want to get the attention of millennials.

FAO: Will banks find the right path to survive? Probably yes, at least the strongest ones. Do remember the recent fintech acquisitions made by major banks and the fact big banking players are steadily switching their business models to address their times (like Goldman Sachs – more here in Retail banking section). You would also want to check the latest Jeff Kutler piece in the Institutional Investor, scroll down to Regulation.

FinTech People

Via Livemint – Paytm board appointed Pallavi Shroff as independent director

DNT: Pallavi Shroff is managing partner at law firm Shardul Amarchand Mangaldas, as the story informs us.

Latest Developments & Agreements

FCA Signs Fintech Collaboration Pact With Top US Regulator

Vivek Ahuja – Financial News (subscription)

The Financial Conduct Authority has signed its first fintech deal with he Commodity Futures Trading Commission, a potentially significant milestone for startups looking to sell their technologies to banks and fund managers on both sides of the Atlantic.The FCA and the CFTC said that they would work together to support startups through their respective fintech initiatives, LabCFTC and Project Innovate.

DNT: This fintech deal follows the one signed by FCA and Hong Kong regulators in September 2017. Details here, , Latest Developments & Agreements section.

Russian Central Bank Sets Guidelines For Fintech Development, Aims At Competition And Accessibility

IBS Intelligence

The Russian central bank has approved a regulatory framework for the development of fintech from 2018 to 2020.


What The 1980s Can Teach Us About Wall Street’s Survival

Jeffrey Kutler – Institutional Investor

The sense of excitement that today surrounds deregulation, fintech innovation, and technology giants — like Apple and Alibaba Group Holding, whose digital-payment offerings challenge a traditional banking stronghold — is hardly new. Similar waves of change have disrupted convention in the past. The history is instructive and, to incumbent institutions that may have faced questions about their survivability, even reassuring.

DNT: Another excellent story from our friend Jeff Kutler! A lesson about disruption from the 80s till present and about Wall Street’s survival.

Accelerators & Hubs

Investment Association Sets Up Fintech Accelerator For Asset Managers


The 240-member strong UK Investment Association is to launch a fintech accelerator to host startups with ‘market-viable’ technology tailored to the needs of the asset management industry.

The View From Down Under: The Future Is Bright For Australian-UK Business Relations

Charles Bowman – City A.M.

Following the vote to exit the EU, Australia was the first market with which the UK established a bilateral trade working group to investigate how a future enhanced trading relationship will look between our two countries. With all that I have seen over the last week, I now know why.

New Startup Hub Proves The Case For Building TechCentral

The Australian  (subscription)

Every successful innovation hub in the world, from Silicon Valley to Tel Aviv, has a centre of gravity. A place the start-up community calls home. In the fast paced world of high growth technology companies, the best way to learn is from others who are building a high growth company.


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.


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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News