FinTech Daily News – Edition 178, 27.03.2018
March 27, 2018
FinTech Daily News – Edition 180, 29.03.2018
March 29, 2018

FinTech Daily News – Edition 179, 28.03.2018

Deals & Investments

Lightspeed Just Filed For $1.8 Billion In New Funding, As The Race Continues

Connie Loizos – Techcrunch

According to a fresh SEC filing, Lightspeed Venture Partners,is raising a record $1.8 billion in new capital commitments from its investors, just two years after raising what was then a record for the firm: $1.2 billion in funding across two funds (one early-stage and the other for “select” companies in its portfolio that had garnered traction).

FAO: Softbank Vision Fund set a very high standard. Check our FREE ARCHIVE.

DNT: Yesterday, Deals & Investments section, we had General Catalyst who Just Closed Its Biggest Fund Ever, and today another impressive record from Lightspeed.

Intercom’s Fresh Funding Brings The Customer Engagement Startup’s Valuation To $1.275 Billion

Chloe Aiello – CNBC

Intercom announced $125 million in Series D funding bringing the customer messaging startup’s valuation to $1.275 billion. Kleiner, Perkins, Caufield and Byers led the round with contributions from Google Ventures, as well as investors from prior rounds of funding. Kleiner, Perkin’s Mary Meeker will also join the Intercom board.

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!

Lending

Fintech Holds Great Promise To Expand Credit, Says Fed’s Bank Supervision Ace

Ted Knutson – Forbes

Fintech holds great promise to expand credit, Federal Reserve Vice Chair for Bank Supervision Randy Quarles said.

“Fintech may enable credit to be underwritten and delivered in a manner that is still prudent but with greater efficiency, convenience, and lower processing costs,” Quarles forecast in his remarks.

FAO: They say “beauty is in the eye of the beholder”, in this case it’s about “fintech’s utility”…

Retail banking

Cyberattacks Hit Debt-Market Pricing At The Biggest Nordic Bank

Frances Schwartzkopff – Bloomberg (subscription)

Nordea Bank AB will start pricing debt products to reflect threats to data as the scandal engulfing Facebook Inc. redefines corporate risk.

FinTech People

JPMorgan Is Hiring More Tech And Math Grads In Asia

Cathy Chan – Bloomberg (subscription)

JPMorgan Chase is hiring more engineering, neuroscience and psychology graduates across Asia-Pacific, diversifying away from students with finance backgrounds as it seeks to adapt its workforce to the region’s fast-changing economies.

FAO: There are a few banks moving fast in adapting to change. JPMorgan, the biggest bank in the US, seems very committed to change.

Latest Developments & Agreements

US Fintech Firm Broadridge Buys Israeli Startup ActivePath

Shoshanna Solomon – Times of Israel

US fintech firm Broadridge Financial Solutions, said it had completed the acquisition of Israeli startup ActivePath, the $4 billion Lake Success, New York-based company’s first acquisition in Israel. Terms of the deal were not disclosed.

DNT: It’s the first acquisition  of the US digital communication company in Israel. Broadridge Financial Solution plans to use ActivePath to expand R&D and investment, as the story informs.

Regulation

Here Are The Pros And Cons Of Arizona’s Fintech Sandbox

Maria Terekhova – Business Insider

The program is due to open for applications in late 2018 and run until July 2028. Applicants will be able to serve up to 10,000 Arizonian customers, and will have two years for testing. The AG’s office said the project was driven by the “glacial pace” at which Congress and Federal regulators like the SEC and CFTC are debating the merits of introducing sandboxes at a federal level, thus holding back financial innovation.

DNT: Arizona has become the first state in the US to enact a law that creates a regulatory Fintech Sandbox – reported here, Accelerators & Hubs section.

Accelerators & Hubs

MassChallenge Wants To Pair Fintech Startups With Finance Giants

Greg Ryan  – Boston Business Journal

The Boston accelerator is planning a special program for financial services technology startups, similar to its two-year-old initiative for digital health firms.

Events

Istanbul, today – Blockchain Venture Summit

Istanbul, today – FAO will speak about “Crypto Funds: The future of asset management”@#Blockchain #Meetup #Day @ koophub @ Workinton Register Free: https://goo.gl/C7Vhm3

Other news

B-Hive Launches B-Lens 2018 Dashboard To Monitor Fintech Business

IBS Intelligence

B-Hive, the collaborative innovation fintech platform that brings together banks, insurers and market infrastructure players to work on common innovation challenges and build bridges to the start-up and scale-up community, announces the launch of B-Lens 2018, in cooperation with Roland Berger, a global strategy consulting firm and associate partner of the B-Hive community.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News