FinTech Daily News – Edition 50, 12.09.2017
September 12, 2017
FinTech Daily News – Edition 52, 14.09.2017
September 14, 2017

FinTech Daily News – Edition 51, 13.09.2017

FinTech Daily News

by Florin Oprea

Edition 51, 13.09.2017

Payments

Ripple CEO Brad Garlinghouse Explains Why The World Has Barely Scratched The Surface With Cryptocurrencies

Eric Jackson – CNBC.com

DNT:  Audio of this conversation available here.

FAO: Yeah, maybe Brad Garlinghouse can explain a few things to Jamie Dimon…read today’s Blockchain Daily News if you don’t follow my remark.

Lending

Orchard Unveils Global Network Connecting Institutional Buyers And Loan Originators With New Opportunities In Private Credit

PR Newswire

Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution.

FAO: Check this July edition to find a profile of Matt Burton, Orchard’s CEO.

Goldman Sachs Takes Aim At Zopa, Ratesetter And Funding Circle

Moriah Costa – Alt Fi News

Wall Street giant Goldman Sachs could take ‘alternative’ lending to the next level.  The firm is planning to launch an online deposit business in the UK by the middle of next  year. It will aim to replicate the success of its online retail-lending brand Marcus in the US by bringing the service to the UK.

Wealth & Personal Finance

Morningstar-Backed Robo Aims At Older Clients

Barron’s

A new robo-advisor is going against the grain by aiming a higher-priced service aimed at older investors. United Income, backed by Morningstar and eBay founder Pierre Omidyar, focuses on those ages 50 to 70 who are approaching retirement or retired, says CEO Matt Fellowes: “Eighty percent of investible assets are held by people 50 and over.”

FAO: Everybody is looking for a niche…

Retail banking

Bankable And Moneyou: Friendly Fintechs Challenging The Status Quo

Madhvi Mavadiya – Forbes

European retail online bank Moneyou has announced that it will be diversifying its portfolio to leverage Level 39 payments service provider Bankable’s multi-wallet and multi-card technology to target millennials in the Netherlands and in Germany.

Fidor Bank In Singapore: Establishing Tomorrow’s Fintech Entrepreneurs

Madhvi Mavadiya – Forbes

Smart Nation Singapore continues to forge ahead in the financial technology industry, especially with the news announced last month that challenger bank Fidor has invested in five polytechnics so that students and lecturers are trained on developing fintech applications, using Fidor’s API sandbox and fidorOS digital banking platform.

DNT:  Excellent! The fact that a lot of students will acquire knowledge and skills which they will apply in the near future, means progress for digital banking services. Banking in general needs to adapt to the digital era. Smart move indeed!

FinTech People

Fintech Firm SoFi Says CEO Mike Cagney Will Step Down By Year-End

Peter Rudegeair-The Wall Street Journal (subscription)

CEO Resignation, Sexual Harassment Suit Could Delay SoFi’s Bank Plans

James Rufus Koren – Los Angeles Times

At SoFi, it took just a month after an allegation of sexual harassment at the fast-growing online lender for Chief Executive Mike Cagney to announce plans to resign, a sign of the growing furor over brutish behavior in Silicon Valley — and the potential regulatory ramifications the company faces as it seeks to become more like a full-fledged bank.

FAO: Sexual harassment suits are still in full swing in Silicon Valley after a “very hot” summer….SoFi’s latest to be affected after a mega scandal.

Via Finextra – Credorax appoints Fiona Brown, who held senior roles at both First Data Merchant Services and Pay360, as SVP commercial risk and underwriting

Accelerators & Hubs

EU Weighs Strategy To Compete In Fintech With Global Rivals

Reuters

European Union finance ministers will discuss this week a plan to attract more financial-technology companies, in a bid to bridge the gap with global competitors and offset the loss of Europe’s main fintech market after Britain leaves the bloc.

London Still World’s Top Financial Centre Despite Brexit, Says Survey

Jill Treanor – The Guardian

London has retained its position as the world’s top financial centre despite fears that the City will become less attractive for financiers in the wake of Brexit. New York – London’s closest rival and expected beneficiary of the fallout from the UK’s leaving the EU – has fallen further behind amid uncertainty about Donald Trump’s views on free trade.

FAO: Latest Z/Yen Global Financial Centres Index (GFCI) is out! And Hong Kong is now placed third, before Singapore! The gap between Hong Kong and New York is now only 12 points, and Z/Yen team says is the smallest gap between second and third places for over five years. Frankfurt is also one of the biggest winners this year! Keep up the good job!

DNT: London beat not only New York, but rivals as Hong Kong and Singapore…Frankfurt – home to the European Central Bank and a declared rivale of London for the role of main EU financial center after Brexit, was moving up to 11th in the world league table from 23rd a year ago.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News