FinTech Daily News – Edition 27, 09.08.2017
August 9, 2017
FinTech Daily News – Edition 29, 11.08.2017
August 11, 2017

FinTech Daily News – Edition 28, 10.08.2017

FinTech Daily News

by Florin Oprea

Edition 28, 10.08.2017

Wealth & Personal Finance

Wealthfront Sees A Little Saturation For Robo-Advisors, ‘Absolutely’ Plans To Make It To An IPO

Dylan Wittenberg – Benzinga

Wealthfront Senior Director of Communications Kate Wauck explained that the company is the “only one who is narrowly focused on using only software to deliver financial services.”

FAO: We have seen a growing interest in this field from various global players, including BlackRock (more here). Wealthfront is one of the pioneers in this space, it has been on our radar since our launch and we have reported their latest initiatives (check them at least here and here).

If You Can’t Beat ‘Em, Join ‘Em: How Robo-Advisors Compete With Banks

Raizel Yu – The Asset (subscription)

While some robo-advisory firms are targeting retail clients directly, others are looking to form partnerships with established financial institutions in order to leverage their larger reputations.

Guideline Raises $15 Million Led By Felicis To Make 401(k)s More Widely Available

Ryan Lawler – TechCrunch

Everyone should be saving for retirement, but not everyone has an employer that offers a 401(k) plan. Guideline wants to change that, and the company has raised $15 million to grow its base of small business customers making retirement more attainable for employees.

FAO: This company raised a total of $24M in 3 funding rounds since its launch.

Data and Analytics

SMFG, Yahoo Japan Forming Big Data Fintech Venture

Nikkei Asian Review

Sumitomo Mitsui Financial Group and Yahoo Japan are forming a joint venture to sift through the Japanese megabank’s rich troves of customer data for ideas on improving and expanding services. The 300 million yen ($2.71 million) unit will be established as early as September. Yahoo Japan will hold a 51% stake and SMFG the other 49%.

FAO: Oh and they also want to develop an app to offer SMFG financial services to Yahoo Japan’s 37 million users.

FinTech People

CFTE Is Helping MAS Assist ASEAN Finance Professionals Gain FinTech Skills

Rebecca Campbell – Cryptocoins News

The Centre for Finance, Technology and Entrepreneurship (CFTE) has revealed that it is setting up an international hub in Singapore designed to aid finance professionals gain the necessary skills in FinTech.

FAO: We promised we would pick more educational initiatives. If you are part of any educational project in the fintech and/or blockchain space please share the information with us and we will gladly announced it in our bulletins.

Accelerators & Hubs

Dubai Leads The Way In Fintech Initiatives

Angela Scott-Briggs – TechBullion

Historically, the DIFC has been recognized as a premium community for both financial and professional service providers. The most notable of these service providers include bankers, insurers, lawyers and asset managers. It is currently developing its existing ecosystem of fintech companies.

FAO: Yes, we know. A lot of push lately in fintech initiatives not only in Dubai (more here and here) but in the entire Middle East (see here, here and here).

Innovation Friendly: Lithuania Seeks To Become Fintech Center as Bank Of Lithuania Looks To Launch Regulatory Sandbox

JD Alois – Crowdfund Insider.

Lithuania is the latest country joining the Fintech revolution by recognizing the importance of fostering a regulatory environment that is conducive to change and challenges established norms. The Bank of Lithuania is out with a statement regarding the launch of a sponsored Fintech Sandbox.

FAO: As I said in June, during our soft launch, FinTech is king not only in Lithuania, but everywhere in the Baltics.

 

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News