Arash Massoudi, James Fontanella-Khan & Eric Platt – Financial Times (subscription)
A US-based financial services software provider is one of two unnamed parties that has gatecrashed a planned £1.4bn takeover of Fidessa by Temenos, the FT has learnt.
SS&C Technologies has approached Fidessa about a deal, according to three people close to the discussions, and is in contention to acquire the company. Fidessa and SS&C declined to comment.
Samantha Hurst – Crowdfund insider
Bit announced it closed its Series A investment round with an investment from retail giant Overstock.com of $16 million, placing the company’s valuation at $50 million. Founded in 2013, Bitt states it utilizes distributed ledger technology to improve speed, efficiency, and significantly reduces the costs of the payment system.
FAO: As Bitt Wallet uses blockchain technology, Overstock.com is clearly following the path its CEO, Patrick M. Bryne, has set some time ago. Happy to see their are pursuing their dreams even though their 4 million share offering has been canceled recently and after the U.S. SEC had investigated their sale of cryptocurrency to investors – more here.
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Sam Schechner – The Wall Street Journal (subscription)
European tech investors and executives cheered after Spotify Technology burst onto the public markets in New York with a valuation above $26 billion. That made the Swedish firm one of the largest tech companies in Europe and represented one of the best public trading debuts for any tech firm.
FAO: Since this was in the SPOTlight these days, let’s see the potential effects.
Gareth Allan & Yuki Hagiwara – Bloomberg (subscription)
Japanese banks, long content to foster the nation’s love for cash, are now diving into digital payments thanks to a regulatory change that threatens to usher in new rivals.
FAO: Probably the best prepared banking sector in the world in the context of (fin)tech giants taking on global payments markets.
Tom Groenfeldt – Forbes
The IFC is partnering with Chicago-based Victory Park Capital to launch a new fund to invest in fintech companies in the developing world. The partnership aims to improve access to debt capital for fintech companies that lend to small businesses and consumers in emerging markets.
Via Finance Magnates – Duco On-Boards Mireille Dyrberg as its Chief Operating Officer
DNT: Mireille Dyrberg comes from NEX Group’s TriOptima, were she served a similar role, the story informs.
Samuel Agini – Financial News (subscription)
MarketAxess chairman and CEO Rick McVey appears to have it too good.
The former JPMorgan bond guru evangelises for technology’s ability to head off the next market crisis.
FAO: The devil is in the details – “Everything would be going swimmingly, if it were not for things like Brexit.”
Japanese and Swiss financial regulators have initiated an agreement on fintech. The agreement helps the Swiss authority expand its fintech network in Asia.
FAO: The two nations are among the most crypto-friendliest jurisdictions in the world too. Read Blockchain Daily News – it might save you some precious time.
Olivier Holmey – Euromoney
The Middle East’s financial centres are keen to collaborate on fintech, in an effort to catch up with US, UK and Asian markets. But with rich pickings on offer, there is also stiff competition to establish fintech dominance.
FAO: I am sure you are already acquainted by now with the fierce competition between Dubai, Abu Dhabi and Bahrain, among others, for fintech dominance in the MENA region. With huge state-backed investments these cities experience a very fast pace of development in their ambitions to become global financial and fintech centres. Use our FREE ARCHIVE for previous reports of their projects and developments.
Hemant Taneja – TechCrunch
ICOs can reinvent how entrepreneurs bring innovations to life, but no one is quite sure how this will play out.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News