FinTech Daily News – Edition 176, 23.03.2018
March 23, 2018
FinTech Daily News – Edition 178, 27.03.2018
March 27, 2018

FinTech Daily News – Edition 177, 26.03.2018

Deals & Investments

Ayondo, First Fintech To List On Singapore Bourse Ayondo Debuts At S$0.24

Rachel Mui  – The Business Times

Global fintech group Ayondo made its debut on the Singapore Exchange’s Catalist board at S$0.24 apiece – marking the first fintech company to be listed on the Singapore bourse.

FAO: The UK company offers a social trading platform, spread betting and CFD services. It’s listing at SGX was previously discussed some months ago. And since SGX broke the ice, who is next?

SoftBank, Temasek & PE Eye 33% Stake In FINO

Baiju Kalesh – Economic Times

SoftBank Group, Temasek Holdings and a PE fund managed by Morgan Stanley are in talks to buy a one-third stake in Financial Information & Network Operations, valuing the payments bank and technology company at about Rs 2,000 crore.

FAO: Don’t fret – we have done the calculation for you and that’s a valuation of about $308m. The Mumbai-based company raised a total of $35m since its launch in 2006.

Future Stars?

Have an interesting project/company looking for more visibility? Why don’t you send us more details, and after our review your project might get listed it in this section! Contact us HERE!

Payments

Upstarts Are Swiping Business From Visa and Mastercard In India

Jeanette Rodrigues – Bloomberg (subscription)

Global card companies like Visa and Mastercard are losing market share to upstarts in the world’s most innovative payments market: India.

FAO: India has become one of the most dramatic “war zones” in the global clash of payments titans – Paytm is fighting WhatsApp and Google Tez on the subcontinent…more here. Check our FREE ARCHIVE for even more content.

Santander To Launch Ripple-Based International Money Transfer App

Simon Golstein – Finance Magnates

Bank Santander plans to launch a Ripple-based international payments app in the spring, according to Business Insider. Nathan Bostock, UK CEO of Santander, said at the International Fintech Conference in London: “This spring, if not [sic] one beats us to it, we will be the first large retail bank to carry out cross-border payments at scale with blockchain technology.”

FAO: Good time to reannounce (previously discussed last month) plans of using the ripple blockchain, not XRP, the digital asset…

Afterpay’s Battle For Millennial Shoppers Spills Into ‘The Street’

Jonathan Shapiro – AFR

The war for dominance in the fiercely competitive “buy now, pay later” market has spilled over into the “street”, after a couple of bearish desk notes on market darling Afterpay elicited emotive responses from the company’s supporters.

Denizen Launches First Account With Fee-Free Cross-Border Payments

Laura Noonan – Financial Times (subscription)

Denizen, a Silicon Valley start-up backed by Spain’s BBVA is launching the world’s first global bank account that will allow account holders to receive money in one country and pay it out in another without incurring any payment fees.

Lending

Two European Banks Provide U.K. Online Lender With $191 Million

Edward Robinson – Bloomberg (subscription)

British Finance Firm MarketInvoice Wins Bank Funds

Emma Rumney – Reuters

Two European banks will lend 135 million pounds ($191 million) to UK businesses through intermediary finance firm MarketInvoice, the British company said. Portuguese online bank Banco BNI Europa and German investment bank Varengold Bank AG will lend 90 million pounds and 45 million pounds respectively, adding to a three-fold increase in the finance available from institutional investors through MarketInvoice’s online platform since 2014.

FAO: Earlier this month MarketInvoice has topped £2 billion worth of invoice finance and business loans to UK companies.

Fintech lending Platform Loanboox Eyes French Expansion

Matthew Allen – Swiss Info

Loanboox is planning further expansion into Europe having obtained a foothold in Germany. The digital portal for matching institutions with investors plans a move into France and is also looking at other European markets.

FAO: The Zurich-based company is expanding in the neighbouring markets.

Wealth & Personal Finance

Wealthfront Valuation Said to Drop About A Third In New Funding

Julie Verhage – Bloomberg (subscription)

Wealthfront valuation was cut by about a third in its most-recent funding round after rising competition dented optimism about the startup, according to people familiar with the matter.

This 220-Year-Old German Bank’s Considering a Robo-Adviser For Companies

Stephan Kahl – Bloomberg (subscription)

220-year-old Hamburg-based private bank M.M.Warburg & CO, which now uses an online asset manager to also attract private clients with smaller wallets, might expand this offer to semi-institutional customers by the end of the year, according to investment chief Christian Jasperneite.

FAO: Not too old to embrace the future. If it’s still here after 220 years then clearly its previous managers created, and then further improved, a culture in respect of efficiency through change and flexibility.

Artificial Intelligence

Google’s Pichai Sings China’s Praises in AI, Pledges Bigger Team

Bloomberg (subscription)

Sundar Pichai, chief executive officer of Google, expects China to play a crucial role in artificial intelligence as he keeps expanding the search giant’s workforce in the country, even as many of its services are blocked.

DNT: Check our FREE ARCHIVE in order to find more stories about the China’s role in AI and the competition with USA.

Latest Developments & Agreements

Vanguard Joins Fintech Company Raisin For German Market Push

Attracta Mooney – Financial Times (subscription)

Vanguard, the world’s second-largest asset manager, has teamed up with fintech company Raisin to sell its products in a deal that underscores the belief that low-cost online investment services will reshape fund distribution. Vanguard plans to open Frankfurt office this year.

Regulation

NCFA: Canada Needs A Harmonized Securities Environment As Current Provincial Approach Is A Fintech Innovation Killer

JD Alois – Crowdfund Insider

There is an ongoing debate in Canada regarding the regulatory approach to financial services. As it stands today, thirteen different financial regulators hold sway when it comes to securities compliance instead of a single national regulator. To the casual observer this makes absolutely no sense at all. Creating an environment where securities laws are not harmonized within the boundaries of a single country adds unnecessary costs to society and is a burden on the populace.

Accelerators & Hubs

The Fintech Revolution Is Democratising Finance, And London Is Leading The Way

Catherine McGuinness – City AM

The City’s 800 years of Gothic grandeur of the Great Hall played host to leading innovators, investors, politicians, regulators and trade bodies for speeches, roundtables, and pitches from over 1,500 guests.

Arizona Creates A Regulatory Fintech Sandbox

JD Alois – Crowdfund Insider

Arizona has become the first state in the US to enact a law that creates a regulatory Fintech Sandbox. This is an interesting move as the US Securities and Exchange Commission has been slow to embrace Fintech innovation by creating their own Fintech Sandbox meanwhile other regulators around the world have created a safe zone for Fintech startups to test new applications and financial services

Associations & Federations

Italy Gets Fintech Trade Group

Finextra

In the latest sign of growth in Italy’s Fintech market, the country’s largest domestic and foreign players have set up the sector’s first trade association, ItaliaFintech.

Other news

Theranos And Zenefits Are A Feature, Not A Bug, Of Silicon Valley

Michael J. Coren – Quartz

The Theranos settlement is winding down, but Securities and Exchange Commission enforcers will be back to Silicon Valley. Regulators follow the money. Today, they’re paying attention to where the risk of fraud is highest and bad actors are likely to be caught. Few places have the mix of promised high returns, and plentiful capital on display in the Bay Area.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News