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Ruben Munsterman – Bloomberg (subscription)
Toby Sterling – Reuters
Shares in Adyen which handles the payments backend for Netflix, Facebook and eBay surged more than 70% at the start of trading on Wednesday following its IPO.
FAO: Wohooo! A great moment for Europe’s fintech! Keep them coming!
Tom Farley, CEO of Far Point Acquisition and former president of the NYSE Group, discusses Far Point’s IPO and acquisition strategy with Bloomberg’s Vonnie Quinn on “Bloomberg Markets: European Close.
FAO: Here comes Farley, he stepped down last month after four years as NYSE President, being replaced by Stacey Cunningham, the first female president in the exchange’s 226-year history… Farley is trying to raise $400m to buy fintech firms.
Tomio Geron – The Wall Street Journal (subscription)
You don’t have to be a Silicon Valley venture capitalist to invest in the hot new technology startups. Individuals interested in startups can invest through angel groups or online platforms for early-stage investors like AngelList and Propel(x). Or they can invest in later-stage, but still young, companies through publicly traded funds that hold stakes in companies already backed by venture capitalists.
FAO: So there you go, now you know. Show them the money!!!!
Charlie Taylor – Irish Times
Sarah Friar: “Today, 20 million small businesses in the US don’t accept electronics payments. In the UK, which is beginning to be a burgeoning market for us, 50% of small companies don’t accept them”.
Annie Massa – Bloomberg (subscription)
The world’s largest asset manager is marketing its risk analytics software, known as Aladdin, to the army of wealth managers who oversee billions of dollars in client assets. The effort has gained a foothold, with the wealth-management units of Morgan Stanley and UBS Group AG, which oversee about $5.1 trillion in client assets, using the program to screen portfolios and analyze their weak spots.
FAO: New weapons in the digital era. Speaking of which…
Sharon Adarlo – Financial Planning
Banks and digital wealth startups are headed toward the same goal from different starting points. Each side is increasingly seeking to package automated investment advice with checking because customers are expressing an interest in getting both services from one provider. Sometimes they are rivals, sometimes they are working as partners, and sometimes the lines are unclear.
The Abu Dhabi Securities Exchange has inked a partnership with Equifax, a UK-based fintech company that provides blockchain technology services for capital markets.
Daniel Davies – Efinancialcareers
It was always inevitable that success in the fintech sector would be driven more by the “fin” side of things and less by the “tech.” This is, after all, a regulated industry where moving fast and breaking things is not so much the route to success as the route to legal trouble. But 2018 is beginning to really look like the year in which big fintech starts to mature, and the career options begin to look … a lot more boring?
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Philip Stafford – Financial Times (subscription)
Barclays and HSBC are two of the major banks now clearing more of their euro interest rate derivatives in Frankfurt, underlining how Deutsche Börse has established a foothold in a market that has become hotly-contested since the UK’s Brexit vote.
FAO: This follows perfectly after a story we had the other day about Germany’s finance minister, Olaf Scholz, who has called for the re-location of London’s euro clearing business to Frankfurt after Brexit. Told you the last thing you would want to do is to underestimate this nation’s determination…
Huw Jones – Reuters
Eager to ensure that fintech firms don’t desert London after Brexit, the UK government’s latest incentives to lure start-ups will include free networking dinners and trips to potential partners in the United States.
FAO: What else? Free drinks and first class tickets to the States? Seriously now, London will have to do a lot more and will probably be facing a real challenge in keeping the fintech business in the city after Brexit. Paris, Berlin and Frankfurt are already starting to benefit…
LendInvest, the UK’s leading online marketplace platform for property finance, has become a fellow of the Luxembourg House of Financial Technology, the country’s leading FinTech innovation hub.
Christopher Copper – International Investment
Latin American banks are engaged in a fierce race to harness the potential of fintech and deliver digital banking services to a mass client base, according to a report released by the Economist Intelligence Unit.
FAO: The potential new business which can be sold to the unbanked population is causing this “fierce race”…
18-19 June 2018, New Delhi, India – our Publisher and Editor-in-chief, Florin Adrian Oprea (FAO), is invited to speak at the 6th Annual Meeting of The Growth Net, 18-19 June 2018, at the Taj Diplomatic Enclave, New Delhi, India. Join him for a constructive debate about the impact of blockchain technology beyond the use of cryptocurrencies. Being a reader of our daily publications you now have the opportunity of buying discounted tickets – more HERE (do note that a significant discount is applied!).
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Tickets can be purchased HERE and because you are a reader of our daily publications, you can use this voucher code NEWS-BCA-CSS2018 for a 10% discount.
Arjun Kharpal – CNBC
Adyen has been profitable for several years and its revenue crossed the 1 billion euro mark for the first time in 2017.
Alex Konrad – Forbes
It’s one of tech’s wonkiest corners—but it now boasts two of Silicon Valley’s youngest startups to reach a billion-dollar valuation. And with billions of dollars at stake in the fast-growing hyperconverged secondary-storage market, SoftBank’s Vision Fund has now placed its typically outsize bet.
Jhoo Dong-chan – Korea Times
An increasing number of retail investors are using fintech app platforms as an investment tool. To capitalize on this growing trend, fintech companies, which used to offer a simple wire transfers or account checking services, have expanded their operations into investment and asset management by utilizing their convenient and fast financial service platforms.
Pierre Georg – Financial Times (subscription)
Artificial intelligence is affecting almost every aspect of our financial lives, from credit scoring to regulatory compliance. And the blockchain enables financial services that no longer rely on traditional intermediaries such as banks. This has created a clash of cultures in business schools where finance professors are faced with rowdy students who declare the entire financial system is obsolete and requires a reboot.
DNT: This is a very good story that underlines the importance of financial education and the challenges that fintech brings in the way we should teach finance to the young. Worth a few minutes of your time.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News