FinTech Daily News – Edition 31, 15.08.2017
August 15, 2017
FinTech Daily News – Edition 33, 17.08.2017
August 17, 2017

FinTech Daily News – Edition 32, 16.08.2017

FinTech Daily News

by Florin Oprea

Edition 32, 16.08.2017

Deals, Investments & M&As

Where Top US Banks Are Investing In Fintech – CB Insights

Banking Technology

Since 2012, the top ten US banks (by assets under management) have participated in 72 rounds totaling $3.6 billion to 56 fintech companies, according to CB Insights.

FAO: Citi, Goldman Sachs and JPMorgan Chase are the most active investors. And note that all ten banks have blockchain investments.

Fintech CEO Says Tech Giants Like IBM May Go on M&A ‘Shopping Spree’ For Start-Ups In 2018

CNBC

Daniel Döderlein, CEO of Norwegian fintech startup Auka, said that tech behemoths that have shared a long-standing relationship with banks but still rely on older technology would begin to show an interest in a “flood” of new fintech firms.

FAO: Note that fintech startups could reach a funding record this year, as reported last month. Is this a peak? What’s next? Consolidation? Don’t miss today’s last article, in ‘Analysis”. Send us your thoughts if you want – Contact us here.

Wealth & Personal Finance

A Hot Fintech Startup Has Amassed Nearly $5 Billion From People Willing To Hand Over Their Bank Logins

Rachael Levy – Business Insider

Personal Capital is known for its free platform, which allows users to plug in their bank and investment accounts to get a one-stop to track budgeting and spending, asset allocation, and fees they’re paying to asset managers.

FAO: Earlier this month Personal Capital’s existent investors provided an additional $40 million of growth capital.

Regtech

Abu Dhabi Global Market Successfully Closed 2nd Batch Of FinTech RegLab Applications

MondoVisione

For its second batch, the ADGM RegLab attracted 22 local and international FinTech startups and innovators, doubling the number of applications as compared to its first cohort.  The applicants’ solutions cover an array of innovation from virtual currency applications and payments solutions, to crowd funding, robo-advisory, InsurTech and RegTech.

Retail banking

London Fintech Tail Is A Cashback Platform Built On The Promise Of Open Banking

Steve O’Hear – TechCrunch

The app, initially available for iOS and serving London only, offers heavy discounts at local places to eat and drink, all linked to the card you pay with and delivered each week in the form of cashback. However, the draw is how seamlessly it all takes place, by being built on top of digital-only challenger bank Starling‘s API, with Monzo integration also in the works.

FAO: Ok. Would you use this app? How comfortable are you to grant apps access to your banking data?

Accelerators & Hubs

Building A Successful Start-Up Ecosystem

Anthony Wong – The Australian

If you’re a start-up, or aspire to be, it’s a great time to be in Australia as our start-up ecosystem continues to evolve to meet the needs of a growing and diverse start-up community.

FAO: We have seen a lot of action and a lot of public push for fintech in Australia lately. Could Sydney really challenge Singapore’s leading position? Read the next story and think again.

Why Australian Startup Founders Are Escaping To Singapore

Peter Farquhar – Business Insider

There’s been a lot of talk recently about Sydney’s rising status as a fintech startup hub. A recent KPMG report rated the city a “serious challenger” to Singapore in becoming Asia’s top destination for international talent in that field.

But to be a world class player, you need world class talent. And if you want to attract a critical mass of that talent, you need to offer it something that the competition doesn’t have. The reality is, lifestyle just isn’t enough.

FAO: The Aussies have a lot more to do if they want to become a leader in the region. This competition is getting even more interesting as HK also has its “domination” plans. We will follow this entire “picture” with great interest.

Associations & Federations

Norwegian Banks And Startups Form Fintech Cluster

Finextra

Members of the association, dubbed Finance Innovation, comprises Skandiabanken, Nordea, DNB, Tryg Forsikring, Monobank, Sparebanken Vest, Tripod, Stacc, Knowit and Webstep. Academic partners include NHH Norwegian School of Economics and the University of Bergen.

FAO: Good to see that academics are also involved in such a project. Good luck!

Analysis

Visa’s Latest Big Bets in Fintech

Matthew Cochrane – The Motley Fool

Visa is willing to make partnerships with anyone who it believes will enhance the payment experience for its card holders.

FAO: Interesting piece. Following the note of our “Deals” section. Are these the golden years for fintech?

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News