FinTech Daily News – Edition 61, 27.09.2017
September 27, 2017
FinTech Daily News – Edition 63, 02.10.2017
October 2, 2017

FinTech Daily News – Edition 62, 28.09.2017

FinTech Daily News

by Florin Oprea

Edition 62, 28.09.2017

Deals, Investments & M&As

Fintech Startup Koho Closes $8m Investment Round

Newscenter

Koho offers the Koho Visa prepaid card and mobile app that together allow users to manage their daily financial needs, such as direct paycheck load, bill pay, and ATM cash withdrawals.

FAO: This Canada based startup was founded 2014. This round was led by Portag3 Ventures.

Payments

What PayPal Can Learn From Alibaba And Tencent

Emily Bary – Barron’s

As PayPal expands its business, the company has some good role models in China.

FAO: Alipay, re-branded as Ant Financial Services Group in 2015, is the world’s largest mobile payment platform since 2013.

Retail banking

Southeast Asia’s Fintechs: Target The Underbanked

Morgan Davis – Euro Money

Traditional banks and fintech companies are the ultimate frenemies. The long-established traditional finance firms have carved up southeast Asia like a Risk board, staking their claim to service the affluent classes in developed areas, while the fintech companies reach out to the underbanked. But in between, the borders are blurred.

FAO: According to World Bank data there are about 2 billion unbanked adults worldwide, most of them in high density areas like southeast Asia.

Dutch Programme To Boost Bank-Fintech Collaboration In Africa

Sanne Wass – Global Trade Review

The Dutch development bank FMO has come together with fintech firm Above & Beyond to launch an innovation programme that aims to stimulate collaboration between banks and fintech firms and accelerate financial inclusion in Africa.

FAO: …or Africa (check my previous comment).

Cap Markets & Other

Nasdaq Picks Swedish Partner For Latest Blockchain Bet

Fareed Sahloul – Financial News

Nasdaq has partnered with one of the largest banks in the Nordic region for its latest attempt to bring blockchain technology out of the development labs and into mainstream financial markets.

FAO: You can read the press release here. Nasdaq is one of the leaders of the blockchain revolution in the universe of exchanges and it is no surprise to read about another project in this area coming from the former “OMX” leg of Nasdaq. I am sure we will see more and more results from the work done under the surveillance of Sweden’s Fredrik Voss, Nasdaq’s Vice President of Blockchain Innovation. Good luck!

FinTech People

Via Reuters – June Ou, SoFi’s chief technology officer plans to to step down.

FAO: Adds to the list of other senior executives that have left SoFi after the sexual harassment scandal: CEO Mike Cagney (June Ou’s husband), CFO Nino Fanlo and CRO Michael Tannenbaum.

Two UBS Managing Directors Have Quit To Reinvent Themselves As Fintech Investors

Paul Clarke – Efinancialcareers

Two former UBS managing directors have quit their day jobs and set themselves up in fintech hub Level39 to uncover potential investments.

DNT: Cool. Sometimes we have to leave our “comfort zone” and reinvent ourselves…

Accelerators & Hubs

Billions Pour Into LA As It Gears Up To Be The Next Silicon Valley

Ronald Grover – CNBC

When Snapchat parent company Snap went public in a $3.4 billion IPO offering in March, it proved yet again what a growing number of venture capitalists have been betting on for months: Los Angeles, the land of Hollywood movie stars and sunkissed beaches, had become a launching pad for start-ups after decades of being a poor relation to Silicon Valley.

Singapore Fintech in Eastern Europe Tie-up

Finews Asia

The Singapore Fintech Association signed memorandums with Enterprise Hungary and Innotrade opening a new front for Asian based financial technology firms.

FAO: Here’s a previous edition where we had an article discussing Eastern Europe’s pool of certified tech professionals. Check the last article, it’s about Ukraine, but all its neighbouring countries have their potential.

Malaysia Boosts Fintech Hub Status

Finews Asia

The SuperCharger Fintech Accelerator programme kicked off its 12-week programme in Kuala Lumpur by introducing 10 international start-ups as the finalists for this platform.

Other news

How Consulting Firms Are The Key To Saving Fintech Brands

Steve Olenski – Forbes

With all the buzz around fintech as an industry set to revolutionize financial services, banking, payments, and other segments, it may be surprising to hear that many companies within it are also struggling to make it.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News