by Florin Oprea
TransferWise is launching the Borderless account, introducing a new way for Canadian businesses and freelancers to manage their money internationally. It’s the next step in the fintech company’s plan to lead the new wave of financial services.
FAO: “Borderless” reaches Canada….The “Borderless” service was launched earlier this year – we reported this in May, during our soft launch.
Nikkei Asian Review
The Japanese unit of Ant Financial Services Group will offer a version of the Alipay digital payment system tailored for the Japanese market under a new brand.
FAO: Let’s see how fast will Japan embrace this service. Alipay has about 450 million users worldwide.
Utah-based FinWise Bank, a subsidiary of All West Bancorp, has partnered with alternative small business lender Behalf.
FAO: A new win-win. The list of partnerships is growing rapidly. Is consolidation the next step? A growing number of voices in the industry are expecting this.
Zoot, a global provider of advanced instant credit decisioning, risk management, loan origination and workflow management solutions, announced a partnership with Credit Kudos, a technology start-up that uses consumer transaction data to build highly accurate and transparent credit scorecards and affordability metrics.
FAO: There you go, another one reported.
Having the most assets hasn’t necessarily translated into the best service. According to a new analysis by Corporate Insight, many hybrid robo advisors, including Vanguard’s, aren’t keeping up with the startups in terms of providing a seamless, modern website for their digital customers.
Penny Crosman – American Banker
A recently formed group representing 31 data aggregators and fintech companies, called Consumer Financial Data Rights, says banks still aren’t forking over as much data as they should be. The group is meeting with bank regulators to plead their case and trying to get consumers to petition regulators on their behalf.
FAO: HAH! This lines made my day: “Both sides of this debate support the use of open APIs for sharing data between banks and third parties. But they seem to have different interpretations of the word “open.” Data aggregators and fintechs would like “open” to mean, open to everyone. Banks want it to mean, open to anyone they approve.” That’s hilarious!
Built in close proximity to financial data center hubs and subsea landing stations, the new US$32 million facility is tailor-made to meet demand for interconnection from the city’s financial services firms and other industries. It is scheduled to open in the fourth quarter of 2017.
Via FNLondon – John Crompton, HSBC’s former global head of corporate finance, has been named chairman of the advisory board at Issufy, which sells an electronic data management tool that lets banks gather investor feedback online as well as handle tasks such as the allocation of shares.
Via Bloomberg – Goldman Sachs hired Andrew Trout, from Square, for a new post leading engineering recruitment.
The team behind the highly successful Australian FinTech website have soft-launched their FinTech employment marketplace platform, Australian FinTech Jobs.
FAO: This might be useful for some of you folks.
Stephanie Forshee – Corporate Counsel (subscription)
Gorfine was appointed back in July to help run LabCFTC, an initiative that brings fintechs to the commission to discuss regulations and innovation.
FAO: CFTC acting chairman Christopher Giancarlo announced the innovation lab in May.
Tanaya Macheel – TearSheet
TransferWise’s messaging has changed from one that charged at the legacy banks to one that empathizes with its customers.
FAO: Interesting article describing TransferWise’s marketing strategy change.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News