FinTech Daily News – Edition 53, 15.09.2017
September 15, 2017
FinTech Daily News – Edition 55, 19.09.2017
September 19, 2017

FinTech Daily News – Edition 54, 18.09.2017

FinTech Daily News

by Florin Oprea

Edition 54, 18.09.2017

Deals, Investments & M&As

FinTech Startup Braavo Capital Closes $70 Million

NewsCenter

Braavo Capital announced the completion of $70 million in financing, led by Mark 2 Capital.

Braavo Capital’s goal is to change the way mobile entrepreneurs finance and grow their app businesses.

FAO: Bravo Braavo!!!

Nomura To Spend $100 Million On Silicon Valley Innovation Initiative

Finextra

Japanese investment bank Nomura has set aside $100 million to invest in promising startups from a new innovation office in San Francisco.

FAO: Silicon Valley’s money magnet grabbed another $100m.

Payments

Ant Financial To Try Again For U.S. Approval Of MoneyGram Deal: Source

Liana B. Baker – Reuters

Chinese payments company Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International for $1.2 billion.

FAO: We have covered the previous steps in our daily bulletin. Have you tried our Archive?

Lending

UK-Based Fintech Startup Revolutionizes Credit Report Access

Larry Alton – Newsmax

The UK might be ahead of the game when it comes to startups making consumer life easier. A Fintech startup, ClearScore is about to become a consumer’s best friend. ClearScore is a tool that helps consumers manage their financial data and access their credit report — without having to pay for it.

Insurance

Chinese Insurer’s US$1.5 Billion Hong Kong IPO Could Put City Back On Map For Tech Shares OffersTech

Enoch Yiu – South China Morning Post

A planned US$1.5 billion share offer in Hong Kong by Chinese online insurance broker Zhong An Online P&C Insurance, the largest ever by a fintech company in the city, could help Hong Kong improve its attractiveness as a destination for technology IPOs.

FAO: Offer starts today…

Data and Analytics

Credit Karma To Launch Free ID Monitoring Following Equifax Hack

Anna Irrera –  Reuters

Credit Karma Inc is launching a new free service that will alert customers if their identity data has been compromised in hacks, the San Francisco-based fintech company said on Friday in the wake of massive breach at credit monitoring agency Equifax Inc

Retail banking

Scandal Costs Sofi Chance To Become A Bank, Says Ex-SEC head

Financial Times (subscription)

SoFi’s application to become a bank has almost no chance of approval in the wake of a sex scandal that forced out its chief executive, says a close adviser and former chairman of the Securities and Exchange Commission.

DNT: SoFi applied to the Federal Deposit Insurance Corporation in June for a special charter from the state of Utah…It seems that the recent scandal put this on hold for a while…

Data Centers

Equinix Expands In US, Opens 13th IBX In Silicon Valley

Nasdaq

Global data center service provider, Equinix Inc. announced that it has opened the 13th International Business Exchange (IBX) data center – SV10 – in the Silicon Valley. The new center will enable the company to meet the growing demand for data center services in this region.

FAO: Should we change the name of this section in “Equinix and others”? Equinix has been very busy lately, expansion is in full swing…

FinTech People

SoFi Board Says C.E.O. Is Out Immediately Amid Sexual Harassment Scandal

Katie Banner – New York Times

Social Finance, a privately held online lender and technology start-up, said on Friday that Mike Cagney would step down immediately as chief executive, accelerating a departure announced last week amid a sexual harassment scandal.

DNT: It appears that Tom Hutton, the executive chairman, would be the interim chief executive.

Equifax’s Chief Information Officer And Chief Security Officer Are Retiring

Julia Horowitz, Danielle Wiener-Bronner  – CNNMoney

In response to a CNNMoney inquiry, the company said Susan Mauldin is retiring as chief security officer and Dave Webb is retiring as chief information officer.

FAO: Coincidence or not… Equifax announced last week that a security breach may have exposed the personal data (names, Social Security numbers, birth dates, addresses and some driver’s license numbers)of up to 143 million people.

DNT: After that leak, Equifax is under investigation by the FBI and the Federal Trade Commission.

Accelerators & Hubs

HIDCO Floats Expression Of Interest For Fintech hub

Millennium Post

West Bengal Housing & Infrastructure Development Corporation (HIDCO) has floated Expression Of Interest (EOI) for a Fintech hub in the Central Business District (CBD) of New Town.

FAO: New “accommodation” for the flourishing Indian fintech sector…

Analysis

AI In Fintech Market Worth 7,305.6 Million USD By 2022

PR Newswire

According to a new market research report, the market size is expected to grow from USD 1,337.7 Million in 2017 to USD 7,305.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%.

Other news

IDC Urges Local Fintechs To Be ‘More Aggressive’

Ma. Lisbet,  K. Esmael

Philippine financial technology (fintech) companies should take advantage of growing market opportunities by taking aggressive action, market intelligence and advisory services provider International Data Corporation (IDC) said.

Opinion

Fintech To The Rescue For The World’s Unbanked

Paresh Davdra – City A.M.

Half the world is unbanked. That’s the provocative title of a 2009 research paper published by the Financial Access Initiative (FAI), a consortium of researchers from New York University, Harvard, Yale and Innovators of Poverty Action.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News