FinTech Daily News – Edition 25, 07.08.2017
August 7, 2017
FinTech Daily News – Edition 27, 09.08.2017
August 9, 2017

FinTech Daily News – Edition 26, 08.08.2017

FinTech Daily News

by Florin Oprea

Edition 26, 08.08.2017

Deals, Investments & M&As

Fintech Firm Fiserv Raises Offer For Monitise To $98 million

Reuters

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.

Payments

People’s Bank Of China Has Fintech On Its Mind

Fox Business

China Sets Up Clearing House For Online Payment Services Like AliPay And Tenpay

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.

Latest Developments & Agreements

Abu Dhabi Global Market, KPMG Launch Fintech Challenge For Start-Ups

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.

Accelerators & Hubs

Countering West Coast Pull, By Helping Finance Start-Ups Sell In New York

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.

Paris Looking To Become EU’s Main Financial Centre After Brexit

Straitstimes

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.

Why A Shakeout In India’s Venture Capital Industry Is Long Overdue

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

Other news

Islamic Fintech Makes Inroads Into Europe

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