FinTech Daily News – Edition 66, 05.10.2017
October 5, 2017
FinTech Daily News – Edition 68, 09.10.2017
October 9, 2017

FinTech Daily News – Edition 67, 06.10.2017

FinTech Daily News

by Florin Oprea

Edition 67, 06.10.2017

Deals, Investments & M&As

Navient To Buy Fintech Firm Earnest For $155 Million

Peter Rudegeair – The Wall Street Journal (subscription)

Navient jumped into the lending business by agreeing to acquire fintech startup Earnest Inc.

FAO: Looks like Earnest’s “hunting party” was a success. In August Earnest has hired Barclays to help it find a buyer.

DBS Bank Hunting For A Robo-Adviser

Finews

Singapore’s largest lender DBS is looking to add a robo-adviser solution to its product suite.

FAO: There is no doubt – everybody wants a piece of the trending robo-advisors movement. Yesterday we had Aviva announcing its major investment in Wealthify.

Payments

Mastercard And PayPal Expand Digital Partnership Globally

Business Wire

Mastercard and PayPal announced a significant expansion of their longstanding partnership into Canada, Europe, Latin America and the Caribbean and the Middle East and Africa to enhance customer choice, optimize the consumer experience and make Mastercard a clear payment option within PayPal across the globe.

FAO: Make way, make way – giants are crossing…

Singapore, Thailand Weigh E-Payment Alliance In Digital Push

Chanyaporn Chanjaroen – Bloomberg

Singapore and Thailand are in discussions about connecting their national digital payment systems to forge an unprecedented regional alliance, as officials step up efforts to curb the use of cash.

DNT: This is big. The best southeast Asia’s national digital-payment platforms will be brought together.

FAO: Has anybody counted the number of reports mentioning Singapore this week? Do they even sleep at night in Singapore?

Fintech Startup Yoco Is Making Payments In South Africa Go Mobile

Toby Shapshak – Forbes

Yoco had processed R13-million (About $1-million), a not-insignificant amount for a fintech startup in South Africa, which has the most sophisticated financial services industry in Africa and is well served by several major banks that regularly receive global awards for innovation and excellence.

Lending

Credit Kudos Receives FCA Authorisation To Shake Up Credit Bureau Market

Tanya Andreasyan – Banking Technology

Credit Kudos, a challenger credit bureau, has received the green light from the UK’s regulator, Financial Conduct Authority (FCA), to operate as a credit reference agency.

Insurance

ZhongAn Benefits From The ‘Ma Effect’

Joyce Ho – Nikkei Asian Review

Big-name backers give China’s first online-only insurer instant appeal.

FAO: ZhongAn was the biggest fintech IPO in Asia. It raised $1.5b – we reported it last week.

Business tech

RSRCH Xchange Launches ChatBot, Mobile And Desktop Apps

Mondovisione

With 60 working days before the MiFID II implementation deadline, RSRCHXchange, the research aggregator and marketplace, has launched its latest version of RSRCHX including mobile and desktop apps and a range of new research management functionality.

Wealth & Personal Finance

Don’t Think You Own Muni Bonds? Check Your Robo Adviser Account

Brandon Kochkodin – Bloomberg (subscription)

Financial planners have long advised individual investors to carve out some portfolio space for municipal bonds. Most likely, though, only those wealthy enough to hire an investment manager actually went out and bought any.

FAO: And since the topic is trending, here’s another piece about robos…and why they matter so much these days…

Retail banking

Deutsche Bank Is Pulling A Silicon Valley Move And Unleashing Its Code Onto Wall Street

Frank Chaparro –  Business Insider

The German bank announced it will open a large swath of computer code for one of its platforms to the public.

Accelerators & Hubs

Wall Street Moves To Frankfurt As Brexit Doubts Grow

New York Times

Some of the globe’s biggest banks have decided to rent more office space in Frankfurt, bolstering Germany’s financial hub after months of divorce talks between Britain and the EU have left London’s future more uncertain than ever.

FAO: No matter what some are saying, London is definitely feeling a pressure. Read the article below and see how serious this is. Everybody in Europe wants a piece of the pie, they already formed a “waiting line”… check our Archive, you know we are well-documented…

Brexit Transition Deal Needed By Christmas, Says Bank Official

Jill Treanor – The Guardian

Bank of England Deputy governor, Sam Wood, has warned the government it has less than 12 weeks to agree a transition deal with the EU to prevent City firms starting to move jobs and business out of the UK.

FAO: They already started it…moving jobs and business…

Startups Say This Fintech ‘Lab’ Is Giving Them Needed Access To Wall Street And Regulators

Connie Loizos – TechCrunch

Banks want to know what around the corner is trying to put them out of business, so it’s no surprise that a spate of fintech-focused accelerator programs has sprung into existence in recent years.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News