FinTech Daily News – Edition 5, 10.07.2017
July 10, 2017
FinTech Daily News – Edition 7, 12.07.2017
July 12, 2017

FinTech Daily News – Edition 6, 11.07.2017

FinTech Daily News

by Florin Oprea

Edition 6, 11.07.2017

Deals, Investments & M&As

Deutsche Boerse Has Invested $10 Million Into a NYC Startup Backed By Peter Thiel And George Soros

Anna Irrera – Reuters

German exchange operator Deutsche Boerse Group has made a $10 million investment inTrumid, a New York-based financial technology startup that runs an electronic corporate bond trading platform, the companies announced on Monday.

FAO: I see bond trading platforms are still grabbing big players’ interest. DB invests $10m and will collaborate to create products for Europe. CreditEase also invested $28m in Trumid earlier this year.

China Growth Capital Leads Funding Round For Import-Export Fintech Start-up Sunrate

Pan Yue – China Money Network

China Growth Capital has led a series A round worth tens of millions of RMB in Sunrate, a financial technology company focused on providing cross-border payment and exchange-rate risk-management solutions.

FAO: Sunrate also provides market analysis services and develops its own financial products.

Sydney Fintech Macrovue Secures $1.25 Million With Themed Investment Plans

Angela Castles – Smart Company

Sydney based startup Macrovue has secured an oversubscribed $1.25 million funding round from AMP, James Goodwin, Inception Asset Management and other high net-worth investors.

FAO: Among the investors – AMP, James Goodwin, Inception Asset Management and other high net-worth investors. Macrovue’s founders are former BAML quantitative analysts.

Partech Ventures Emerges As New European VC Giant After Closing $1 Billion In New Funds Over 18 Months

Chris O’Brien – Venture Beat

Partech Ventures announced that it had closed a $455 million early-stage fund, its fourth new fund since January 2016.

FAO: Partech has its main office in Paris, and another office in Berlin. Partech has raised more than $1 billion in new funds over the last 18 months.

Payments

Stripe Strikes Global Partnerships With China’s Alipay, WeChat Pay

Anna Irrera – Reuters

Silicon Valley startup Stripe has partnered with digital payment providers Alipay and WeChat Pay to enable merchants using its platform globally to accept payments from hundreds of millions of Chinese consumers.

FAO: K boom! Story of the day! Merchants using Stripe can now accept payments from hundreds of millions of Chinese consumers. Alipay has over 520 million users while WeChat Pay has more than 600 million users.

Worldpay To Herald New Era Of Bank Interest In Fintech M&A

Yolanda Bobeldijk – Financial News (subscription)

JPMorgan’s interest in Worldpay is likely to be just the start of a wave of bids for European fintech companies by banks in the coming years, according to industry experts.

FAO: Yolanda talks about last week’s deal. Vantiv has offered $10 billion to buy Worldpay Group, a British payment processing firm. Previously JP Morgan made a preliminary approach to buy Worldpay – reported here.

FinTech Disruption:TransferWise Case Study

Kamrul Alom – The Market Mogul

Over the years, people have become frustrated and disenfranchised with the banking sector.

FAO: I intentionally placed this article here. Read the article above and then read the first line of this one “Over the years, people have become frustrated and disenfranchised with the banking sector. “ So my question is: which is going to be regarded as acquisition targets in the next 10 years? Is it A. Banks or is it B. Banks?

Microsoft Wallet Gets Support From Ally Bank, First Light FCU

Pymnts

According to a news report, Microsoft Wallet is now accepted at Ally Bank and First Light FCU. The report cited a Reddit user for discovering the mobile pay support and pointed out Microsoft has not listed the banks on the support page for Microsoft Wallet.

Lending

SocietyOne Hits A$300 Million Loans Written

David Tuckwell – Alt Fi News

Fintech lender SocietyOne has hit a new corporate milestone, having written a total of A$300 million worth of loans since opening shop five years ago.

FAO: Nice growth.

Retail banking

Challenger Bank Fidor Has Called Up Seedrs And Nutmeg For Its Digital Marketplace

Billy Wood – BDaily

German challenger bank Fidor has announced it is partnering with a pair of UK tech firms to offer its customers access to equity crowdfunding investments and wealth management services.

FAO: A win-win-win situation.

Regulator Warns Banks on Use of New Technologies

Rachel Witkowski – The Wall Street Journal (subscription)

WASHINGTON—Banks should be cautious about taking on new technologies for financial products, a national bank regulator said Friday in a semiannual report on risks facing the industry.

FAO: Hmmm. Interested to find out more about this warning. Maybe somebody from the Office of the Comptroller of the Currency can send an opinion? We will publish it.

Finch Founders Urge Banks To Invest In Start-ups, Not ‘Innovation Theatre’

Yolanda Redrup – Financial Review

The big banks have been challenged to stop performing “innovation theatre” and invest more money into start-ups, or risk being disrupted by major tech players such as Apple and Facebook, which have started to creep into the banks’ territory.

FAO: “Put your money where your mouth is”.

Where Do Banks Fit in the Fintech Stack?

The Financial Brand

It’s a good question, and it’s also the title of a recent presentation given by Lael Brainard, a member of the Board of Governors of the Federal Reserve System.

Data Centers

Sri Lanka’s First Tier III Data Centre Put To Work

João Marques Lima – Data Economy

Connectivity provider Dialog Axiata Group has announced the opening of Sri Lanka’s first Tier III data centre in Malabe.

Press release here.

Cap Markets & Other

Santiment ICO Hits $10m Target Less Than 45 Seconds into Semi-public Offering

Avi Mizrahi – Finance Magazine

Santiment, a crypto-market information network, has announced the successful completion of its token sale. The token sale reached Santiment’s intended hard cap of 45,000 ETH (worth over $10 million at the current Ethereum price level) within two days, and less than 45 seconds (within three blocks) after opening the semi-public Cofound.it portion.

India’s Biggest Exchange Resumes Stock Trading After 3-Hour Halt

Santanu Chakraborty, Candice Zachariahs & Ameya Karve – Bloomberg

India’s largest exchange resumed trading in its stock and equity derivatives markets Monday, after keeping traders on tenterhooks for about three hours with conflicting messages about what time operations would resume.

FAO: I think we are “trespassing” a bit since this is not our primary focus… but anyway a 3h outage is a mega hit, especially for National Stock Exchange of India, India’s leading exchange.

Accelerators & Hubs

Bank of England Publishes 3rd Round Of Proofs of Concept From Fintech Accelerator

JD Alois – Crowdfund Insider

Launched a year ago, the Accelerator seeks to deploy innovative technologies on issues relevant to the Bank’s mission and operations. The Bank is seeking to develop new approaches and build its understanding of these new technologies and support development of the sector.

Can Tesla And Blue Sky Make Adelaide a Start-up Hub?

John McDuling – Financial Review

Adelaide is known as a city of churches, pie floaters, and lately, blackouts. Can it be a city of start-ups?Blue Sky Venture Capital thinks so. The VC arm of ASX-listed Blue Sky Alternative Investments last week won a mandate to manage a $50 million venture capital fund for the South Australian government, and it has already made its first big hire for the new endeavour.

Analysis

Can Cryptocurrencies Cause PayPal A Serious Headache?

Seeking Alpha

While plenty of technology companies have lost to peer to peer, open source organizations, no one would’ve expected PayPal could face this as well.

FAO: YES!

Other news

Google Launched An Initiative To Improve How Users Work With Artificial Intelligence

Jordan Novet – CNBC.com

Alphabet on Monday said it has kicked off a new research initiative aimed at improving human interaction with artificial intelligence systems.

FAO: How do you see this evolving in 10 years from now? Please send us your scenarios – use the form on our Contact page.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News