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FinTech Daily News

by Florin Oprea

Edition #17, 15.06.2017

Deals, Investments & M&As

Element AI Raises Historic $102M USD Series A Funding Round From DCVC and Leading Global Institutions

Business Wire

Element AI, an artificial intelligence company that delivers groundbreaking AI solutions, announced today it has raised $102M USD, representing the largest Series A funding round for an artificial intelligence company in history

Finastra: Misys, D+H Merger Creates One Of The World’s Largest Fintech Companies

Ellie Burns –  Computer Business Review

There is a new kid on the fintech block, with Misys and D+H joining forces to create a diversified global financial software company – a company billed as the third largest fintech company in the world.

Lending

Fundbox Opens Its Loan Platform To More Small Businesses

Kevin Wack – American Banker (sub)

Fundbox, a San Francisco-based online lender, is opening its platform to a wider swath of U.S. small businesses.

FAO: Interesting product. Press release here.

Insurance

What’s Holding Back Fintech?

Wall Street Journal (sub)

Jonathan Larsen of Chinese insurance giant Ping An says it’s partly customers, partly technology and partly regulators

FAO: Reference is made to Ping An’s announcement this week. The Chinese insurance giant launched a USD 1B fund hunting fintech deals.

Cap Markets & Other

Why Crowd-Based Capitalism Has Changed The Economy

City A.M.

Technological advances are reshaping our jobs and the nature of work. How will the global economic system evolve? What will the future of work look like?

DNT: Very interesting! The nature of work is evolving faster than ever before. So, all of us will need to be aware about the changes and trends…There are so many variables: stability, choices, flexibility, technology, global connectivity and so on…

FinTech People

Misys Boss To Lead Fintech Giant After Merger With DH

Ben Martin – The Telegraph

The boss of banking software firm Misys is to take the helm of a new £1.7bn company called Finastra that has been formed from the British company’s merger with Canadian rival DH Corp.

FAO: Steps after the mega merger.

Latest FinTech developments & agreements

Bahrain Launches New Rules For Fintech Firms

Tom Arnold, Louise Heavens – Reuters

Bahrain’s central bank has issued new rules to create a regulatory unit that will allow financial technology firms to test and experiment banking ideas in a controlled environment.

CBB Announces Regulatory Sandbox For Fintech Startups

Bahrain News Agency

The Central Bank of Bahrain (CBB) has announced new regulations to create a regulatory sandbox that will allow startups and fintech firms to test and experiment their banking ideas and solutions.

The Fast And The Fintech

Clifford Alvares – Businessworld

In the age of AI, big data and cloud, the question is not why, but how fast one can adopt tech’s disruptive forces.

Regulation

European Banking Federation Wants Fintech At Overclock Speed

Antony Peyton – Banking technology

Responding to the European Union (EU) consultation on fintech, the European Banking Federation (EBF) wants the creation of an inclusive ecosystem and asks for people to get on with it.

Accelerators & Hubs

Why Toronto Could Inevitably Dominate Fintech

Salman Khan – The London Economic

A strong technology sector, resilient financial system, fantastic talent pool and low business costs put Toronto on the global fintech map.

FAO: Toronto wants a piece of the big fintech pie.

Australian Start-up Is Branson-bound

David Swan – The Australian

Australian start-ups will be given the chance to participate in Virgin StartUp’s accelerator program, with Brisbane-based start-up hub Creative Enterprise Australia announcing the winner of its pitching competition will head to London and Copenhagen.

Former Facebook, Google, And IBM Executives Have Cofounded An Accelerator

ConorCawley – Tech.co

Accelerators, while an integral piece of the startup puzzle, are a dime a dozen. With US cities making a bigger push for innovation, these purveyors of capital, mentorship, and other business resources have become a staple of startup ecosystems across the country.

Ohio’s Fintech Accelerator Gaining Global Momentum

Marketwired

Fintech71, a cross-industry Ohio-based accelerator focused on financial technology, is gaining momentum across the globe since it launched in late April. With the applications process now well under way, the unique non-profit collaboration platform is seeing significant interest from fintechs as well as more corporates joining the partnership.

 

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