FinTech Daily News – Edition 187, 11.04.2018
April 11, 2018
FinTech Daily News – Edition 189, 13.04.2018
April 13, 2018

FinTech Daily News – Edition 188, 12.04.2018

Deals & Investments

WeWork Buys Rival Naked Hub In China Expansion Drive

Ryan Browne – CNBC

WeWork Snapping Up China-Based Rival Naked Hub

Reuters Staff – Reuters

WeWork Is Acquiring China’s Naked Hub for $400 Million

Ellen Huet & Lulu Yilun Chen – Bloomberg (subscription)

WeWork is buying Chinese coworking startup Naked Hub as part of a continued expansion in the world’s most populous country. WeWork, will pay about $400 million for the three-year-old Chinese business, according to two people familiar with the matter, who asked not to be identified because the terms are private. The majority will come in the form of equity, one of the people said.

DNT: WeWork continues to  push aggressively into Asia.

SoftBank Among Investors For $25 Billion FIFA Plan: Report

Reuters Staff – Reuters

Japanese conglomerate SoftBank is part of a consortium of investors that are planning a $25 billion move to create international tournaments for soccer’s governing body FIFA

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

Tencent’s $50 Billion Plunge Isn’t Enough To Scare Analysts

Edwin Chan & Eric Lam –  Bloomberg (subscription)

Tencent Holdings having about as bad a month as Facebook — on financial markets, at least. Analysts are betting it’ll pull through.

DNT: The average 12-month target price on Tencent remains at the highest it’s been in a year, the story informs.

Lending

FCA Issues Warning About Funding Circle Clone

Marc Shoffman – P2P Finance News

The City  watchdog has issued a warning to consumers about a clone of peer-to-peer lender Funding Circle.The clone, Funding Circle Loans, had set up a website purporting to be the P2P platform.

Singapore Favors ‘Organic’ Policy In Move Toward Open Banking

Chanyaporn Chanjaroen & Haslinda Amin –  Bloomberg (subscription)

Singapore wants its lenders to share data with financial technology and other non-bank firms, but doesn’t plan to force the issue, according to a central bank official.

Wealth & Personal Finance

Fidelity Is Revamping How It Charges You for Financial Advice

Sarah Krouse – The Wall Street Journal (subscription)

Fidelity Investments is overhauling what it charges affluent clients for financial advice, one of the biggest-ever pricing shake-ups for a firm that oversees hundreds of billions of dollars held by U.S. investors.The changes, which will begin in July, allow the wealth manager to make its fees more transparent at a time when the industry is under pressure to do so.

Artificial Intelligence

US Artificial Intelligence Startups Had A Record Quarter And Raised $1.9 Billion Of Venture Capital

Becky Peterson – Business Insider (subscription)

Funding for AI startups in the US hit an eight-quarter high in Q1 2018.

Artificial intelligence startups in the US had a record quarter during the first three months of the year, raising $1.9 billion in venture capital across 116 deals, according to the 2018 Q1 MoneyTree Report. That’s 29% growth from the previous quarter.

DNT: What can we say besides the fact we already told you that 2018 is AI year?

China Has become A ‘Technological Powerhouse’ In Artificial Intelligence, Says Global Robo CEO Bill Studebaker

Eustance Huang – CNBC

U.S.-China tensions are rising about Beijing’s treatment of foreign firms’ intellectual property, but China already recognizes the need to protect its own technologies, according to one CEO. Bill Studebaker of Robo Global said China has been a “chronic abuser” of intellectual property in the technology space, but “it sort of recognizes that they need to come to the table and protect their own IP.”

DNT: Read more the AI “war” between China and  USA in our FREE ARCHIVE.

Latest Developments & Agreements

Ministry of Economic Affairs and Climate Approves Funding Circle Netherlands As Guarantee SME Credit Scheme Participant

Samantha Hurst – Crowdfund Insider

The Ministry of Economic Affairs and Climate has reportedly approved Funding Circle Netherlands as a Guarantee SME Credit scheme participant.

Vodi Forms Partnership With Viettel America to Launch New Fintech Products

Samantha Hurst – Crowdfund Insider

Vodi has just announced a new partnership with Viettel America. The duo revealed that through the partnership they will work together to launch exciting new fintech products that will increase active users and grow revenue for both companies.

Regulation

U.S. Proposes Loosening Big-Bank Capital Rule

Ryan Tracy & Lalita Clozel – The Wall Street Journal (subscription)

Bank regulators proposed retooling a major capital rule, their second move in as many days that could benefit some of the country’s largest banks. The Federal Reserve and the Office of the Comptroller of the Currency proposed loosening the “supplementary leverage ratio,” a rule applying to eight large U.S. banks considered crucial to the functioning of the global financial system. The group includes JPMorgan, Wells Fargo & Co. and Goldman Sachs.

Accelerators & Hubs

Swedish Fintech Startup Minna Technologies Now Offers 7 Million People In The Nordics A One-Stop-Shop For Subscriptions

Tom Turula – Business Insider

Fintech startup Minna Technologies lets people manage, switch or cancel their existing utility and software subscriptions through one app. More than 200,000 Swedes are today using the service through Swedbank and the startup’s stand-alone app.

Analysis

Higher Salaries Giving Fintech Sector Edge Over Traditional Banking

Finextra

Joblift has analysed and compared the UK’s Fintech and traditional banking sectors over the last 12 months. The analysis shows that traditional banking has felt the effect of the competition from Fintech and the upcoming Brexit with vacancies decreasing by 3% monthly, while Fintech seems to be flourishing, with a huge growth of 9% monthly, in the face of these challenges.

DNT: Traditional banking is feeling the effect of the competition from Fintech…

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News