by Florin Oprea
South China Morning Post
Xero has built an ecosystem of more than 500 add-on partners, which help small businesses access and integrate technology applications relevant to their individual business needs – regardless of their location, sector or scale.
Wirecard, the leading supplier of digital payment solutions and internet technology, will support the Berlin-based FinTech Billie in the digitisation of its payment processes. Billie will offer SMEs and freelancers the opportunity to pre-finance their invoices by purchasing all liabilities from third parties and settling the outstanding amount.
FAO: Earlier this year, in February, Billie raised an undisclosed amount from Global Founders Capital, Speedinvest.
Mark Calvey – San Francisco Business Times (subscription)
BlackRock has become a Wall Street giant over the years, assisting institutional investors with assessing risk and setting their investment strategies to meet long-term obligations. Now it wants to use fintech to help individual investors succeed.
FAO: BlackRock bought a stake in Anglo-German digital investment manager Scalable Capital. We reported this in June, during our soft launch. Here is a link.
Prableen Bajpai – Nasdaq
Nasdaq is acquiring Sybenetix—a London-based company that uses advanced technologies such as artificial intelligence (AI) and behavioral analytics to offer market surveillance and compliance monitoring systems.
FAO: The deal was announced last month, and we reported it here.
Philip Stafford – Financial Times (subscription)
TP ICAP said it was looking at further acquisitions this year after the world’s largest interdealer broker said it had cut 175 jobs in the first steps towards integrating the ICAP broking business it bought for £1.3bn. In its interim results to June 30, the London broker said it had had a “mixed” year to date, and had focused largely on cost-cutting after the ICAP deal.
FAO: TP ICAP considers buying Trayport from the Americans. The sellers, Intercontinental Exchange (ICE), who bought the company from BGC Partners in 2015 for $650m, and is forced to sell it by UK antitrust regulators.
Yolanda Bobeldijk – Financial News
Banks are trying to stop senior staff from defecting to fintech companies by allowing them to work on their ideas in-house in a bid to keep pace with technological innovation. JPMorgan has opened up its externally focused innovation programme to entrepreneurial staff inside the bank’s four walls so that they can start their own fintech company.
DNT: Smart move, in order to keep the “minds” in house.
Major differences exist between the way Europe’s various national financial regulators treat fintech firms, the European Banking Authority (EBA) has found.
The largest proportion of firms surveyed in the EBA’s large-scale “mapping exercise” of Europe’s fintech companies, released on August 4, are not subject to any regulation regime at all.
FAO: EBA’s discussion paper can be found here.
Yomi Kazeem – Quartz
If you follow the right accounts for young African tech entrepreneurs on Twitter, it can feel like there’s a never ending debate about who gets funding or not in Africa. Like many Twitter debates the 140 characters and even the endless threads don’t capture all nuance of the issue, but while many of those debates have grown, founders from one sector of the startup space have been more positive than most: fintech.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News