FinTech Daily News – Edition 157, 26.02.2018
February 26, 2018
FinTech Daily News – Edition 159, 28.02.2018
February 28, 2018

FinTech Daily News – Edition 158, 27.02.2018

FinTech Daily News

by Florin Oprea

Edition 158, 27.02.2018

Deals, Investments & M&As

Singapore Fintech Hub Lattice 80 Plans ICO

Finews

Lattice 80 appointed a former Korean senator to its board of advisers and plans to conduct its own ICO. Sang Min Kim has joined the company’s board of advisers  according to a statement.

FAO: The fintech hub that is dubbing itself as the largest in the world plans the largest fintech hub in NYC in 2018, thus it needs funds. The ICO plans were long discussed (check here and here). So I guess we will soon see another couple of hundred million dollars worth of cryptos moving around?

ANZ Buys Into Data Republic Ahead Of Open Banking

James Eyers – Financial Review 

ANZ Banking Group has taken an equity stake in Data Republic and will begin using the data exchange platform to work with outsiders to develop insights about its customers.The bank’s chief data officer, Emma Gray, said ethical data use needs to be front of mind as the government’s open banking.

FAO: Another major banking group, this time in Australia, is buying fintechs. Yesterday we had BNP Paribas’ new fintech investment fund, not to mention the plethora of big US banks investing in fintech in the last years (check our FREE ARCHIVE for several deals we reported). Banks are trying to find a way to stay in our times and many of them are steadily switching their business models (like Goldman Sachs – more here in Retail banking section). You would also want to check one of Jeff Kutler’s pieces in the Institutional Investor (check here, in Regulation).

BUZZ-Temenos: Vontobel Convinced Fidessa Deal Will Play Off

London South East

Vontobel says all its scenarios show that the proposed acquisition of Fidessa represents significant upside potential for Temenos shareholders.

FAO: Oh and you may also want to count Fidessa’s latest deal, scroll down to Cap Markets section.

Peer-to-Peer Lending Startup Blender Raises $16 Million In Debt Financing and Equity

Tofi Stoler – C Tech

Blender P2P Israel has raised $16 million in equity and debt financing, the company announced.

FAO: Total funding reached $21m in the company which was founded in 2014.

Retail banking

Britain’s Big Banks Play Catch Up With Fintech With New Apps

Emma Rumney – Reuters 

British retail banks are poised to introduce money management apps to compete with those already launched by fintech start-ups, betting their trusted brands, broad client base and deep pockets will help them make up lost ground.

FAO: Don’t see why I need to add more comments besides my previous comments on the ANZ deal report above.

European Fintech Alliance Raises Bank API fears

Finextra

The European Fintech Alliance has fired another broadside in its tussle with the financial services establishment over PSD2, raising fears that banks will develop substandard APIs as a way to fend off competition.

FAO: If you had a bank, what would you do?

Mubarak Rashid al-Mansouri, UAE Central Bank Chief: Fintech Very Beneficial To Banking Sector

Reuters Staff – Reuters

The technology underlying crypto-currencies and other new financial technologies are really beneficial to the banking sector, United Arab Emirates central bank governor Mubarak Rashid al-Mansouri said.

Cap Markets & Other

Fidessa & Virtu Announce Liquidity Partnership Built On Next-Generation High-Performance Technology

Mondovisione

Fidessa’s partnership with Virtu enables clients to access Virtu’s fully transparent and disclosed liquidity, together with improved upstream workflow to manage the more complex trading environment brokers now find themselves in.

FinTech People

Hong Kong-based VC Firm Founded By Women Says Industry Needs To Change Male-Driven Culture    

Georgina Lee – SCMP 

Wei Hopeman, co-founder of Hong Kong-based venture capital firm Arbor Ventures, does not shy away from the topic of gender imbalance in the industry. She has a good reason for that: A study by Techcrunch from October 2017 found that women partners account for only 8% of the world’s top 100 venture capital firms.

Latest Developments & Agreements

Hong Kong & Switzerland Seal Fintech Deal

Finews

Hong Kong’s Securities and Futures Commission and its Swiss counterpart, the Financial Market Supervisory Authority signed a framework for cooperation on fintech, the Hong Kong regulator said. The agreement between the two will see SFC and Finma cooperate to share information on fintech trends, developments and related regulatory issues as well as on organizations which promote innovation in financial services.

FAO: Do note that Hong Kong and Switzerland and also two top destinations for the players of the crypto economy…

Accelerators & Hubs

NatWest Sets Up Network Of Fintech Accelerator Hubs

Finextra

The UK’s NatWest is launching four specialist fintech accelerators based in its Bristol, Edinburgh, London and Manchester sites. NatWest is partnering with Dell EMC to offer regular technology reviews and sales strategy analysis to startups joining the hubs.

Bank of Queensland Soaks Up Startup Culture At Local Tech Hub

Finextra

Bank of Queensland has struck a two-year deal with Brisbane-based technology hub and accelerator River City Labs to support local fintech startups. The partnership will see BOQ staffers paired with startups requiring a specific skill or knowledge set, with participating employees spending one day a week with a fintech for three months.

Events

FAO: 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 – send me an email here.

Analysis

Capgemini’s World FinTech Report 2018 Highlights Symbiotic Collaboration as Key to Future Financial Services Success

Business Wire

FinTechs are increasingly looking to symbiotic collaboration with the traditional financial services firms they once sought to overthrow, according to the World FinTech Report 2018 from Capgemini and LinkedIn, in collaboration with Efma.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News