by Florin Oprea
U.S. financial technology provider Fiserv made an improved offer for Monitise worth about 75 million pounds ($98 million) on Monday, hoping to secure backing from the British financial services technology group’s investors.
FAO: Monitise is listed on LSEG’s AIM. Banco Santander has a 4.67% stake, while Visa owns a 2.41% stake.
Maggie Zhang – South China Morning Post
China’s central bank has ordered the establishment of a nationwide clearing house for online payment services, instructing them to route their transactions via the new platform, to shield consumers and the financial system from an internet-enabled model of finance that’s already made up almost 3% of the country’s non-cash payments.
FAO: China is literally building infrastructure. The agreement was signed last month with 44 financial firms, including Ant Financial, Tencent Holdings and China UnionPay’s affiliate. The companies need to connect to the platform by October 15.
Robert Anderson – Gulf Business
Financial free zone Abu Dhabi Global Market (ADGM) and professional services firm KPMG have announced the launch of the first FinTech Abu Dhabi Innovation Challenge for start-ups. The challenge, which is part of the inaugural FinTech Abu Dhabi event in October, will see start-up firms take part in a five-week programme to develop solutions to address business challenges within the financial services industry.
Randall Smith – The New York Times
The West Coast exerts a similar tidal pull for start-up companies in finance. 9 of the 15 United States financial technology “unicorns” are in the San Francisco area.
FAO: Describing NY’s The FinTech Innovation Lab. NY is keen on reaching a higher position as a fintech hub. The Big Apple is ranked 2nd in the The Global Financial Centres Index.
France Finance Minister Bruno Le Maire said Paris will beat Frankfurt to become the European Union’s main financial centre after Britain leaves, even as he acknowledged that the French capital is playing catch-up.
DNT: It will be an interesting competition between those two cities. We will see who has more “trumps” in the hand. No allusion…
FAO: Oh we know the French are very talkative, right? The Germans are quiet and they are steadily adding more “bricks” to their structures, win more partnerships, develop their capabilities…It’s a nice competition to watch, of course. And we are glad to document it. Try our Archive.
Snigdha Sengupta – Live Mint
A shakeout in the venture capital industry is overdue, as the responsibility for the downturn in start-up ecosystem lies as much with investors as start-ups
Eugenio Montesano – International Adviser
Abu Dhabi Global Market (ADGM) has announced two new partnerships with non-profit associations in London and Zurich aimed at strengthening its position as a global fintech hub for the Middle East
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News