by Florin Oprea
Naomi Barzel – Finance Magnates
By using the PayKey app, clients are able to transfer funds via Twitter, WhatsApp, and Facebook Messenger. A similar amount was raised back in November 2016 to advance the development of the mobile app.
FAO: Lead investor of the round was MizMaa Ventures.
Scott Reid – Scotsman
Levels of financial technology adoption among the general public have surged globally over the past 18 months, with the UK leading the way among developed nations, according to a new study.
FAO: Remember yesterday’s EY Fintech Adoption Index.
Ryan Browne – CNBC
UK’s Yoyo Wallet raised £12 million ($15.3 million) in a Series B round, it announced on Monday. The deal was led by German retail giant Metro Group, and awaits approval from the U.K.’s Financial Conduct Authority.
FAO: Yoyo Wallet is a mobile wallet allowing its users to pay for their goods with smartphones; currently processes over 150,000 monthly in-store transactions.
TransferMoney Latvia has selected Accuity to streamline its account and payments screening processes. The move is to help better identify financial crime risk, highlight potential sanctions breaches and flag potentially high-risk customers.
Justina Crabtree, Arjun Kharpal – CNBC
Alibaba’s payments app Alipay unveiled the latest step in its global expansion strategy Monday. The platform is to launch in South Africa with the intention of servicing Chinese tourists.
Euroloan Group PLC issued new shares on Privanet Group PLC’s crowdfunding platform Around. The statutory maximum limit of EUR 4.995 million for the issue was reached on Thursday, June 8, eight days early. The subscription was at termination at 5,599,031 EUR, i.e. 377% of the minimum target of EUR 1.5 million and 112% of the statutory maximum.
FAO: No ICO?
Schwyzer Kantonalbank (SZKB) and Walliser Kantonalbank (WKB) have signed a cooperation agreement on the use and development of digital banking services.
Paul Sawers – Venture Beat
Originally only available in Germany and Austria, the service has slowly been expanding across the Eurozone and now claims 300,000 customers in 17 countries.
FAO: N26’s Series A funding round (Eur 10m) in 2015 was lead by Peter Thiel’s Valar Ventures. The company raised $40m a year ago in a Series B funding round lead by Horizons Ventures.
Broker-dealers, asset managers and banks using Fiserv can now deploy a self-service robo advisor or a hybrid offering through a new partnership.
Neil Ainger – CNBC
A new whitepaper from Innovate Finance’s Transatlantic Policy Working Group (TPWG) has recommended that regulators in the U.S. do more to encourage fintech innovation in the regulatory field regtech by liaising with their international counterparts more and adopting a national policy that conforms with global norms.
FAO: Yip. Get in touch with Europe, at least…You can check this last week’s edition of FDN, “Regulation” section. Asia is pushing forward very fast, not need to try keeping pace.
Madhvi Mavadiya – Forbes
The end of last month saw a consortium of Spanish companies create Red Lyra, the first multisector blockchain-based technology platform. This signals a significant change in the financial technology sector and with the caliber of organisations involved plus their past experimentation with blockchain, this could be big for Spanish and global fintech.
Ryan Browne, Arjun Kharpal – CNBC
Says incoming EU regulations which allow third parties to manage finances of bank customers will create ‘exciting customer experiences’.
FAO: A bit harsh, but could represent an alarm signal for the banking sector.
Poland’s mBank is taking a leaf out of German banking peer Fidor’s playbook, licensing its technology backbone to other financial institutions across Europe.
Tanya Andreasyan – Banking Technology
Norway’s Sparebanken Sogn Og Fjordane (SSF) Bank is modernising its digital banking tech with Backbase.
via PE Hub – Financial Technology Partners has opened a new London office and has hired Timm Schipporeit to join as managing director. Schipporeit is a former financial tech investment banker at Morgan Stanley and fintech investor at Index Ventures.
Twitter co-founder Jack Dorsey reckons that FinTech startups need to stop talking about their projects and “just make it”.
Maria Terekhova – Business Insider
Japan’s fintech efforts have largely focused on blockchain technology and cryptocurrencies, but now the country seems to be taking a broader approach toward the industry.
Supraja Srinivasan – The Economic Times
Indian School of Management and Entrepreneurship, managed by the family office of Yes Bank chief Rana Kapoor’s daughters, has launched a specialised accelerator programme in Mumbai for fintech startups.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News