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FinTech Daily News – Soft launch Edition #7, 30.05.2017

FinTech Daily News

by Florin Oprea

Edition #7, 30.05.2017

Deals, Investments & M&As

Kazakhstan – Astana International Financial Centre JSC & Nasdaq Sign Technology Deal for New AIFC Exchange

Nasdaq

Nasdaq & Shanghai Exchange In Talks Over Kazakh Bourse Stake (sub)

Financial Times

Nasdaq has been selected to power Kazakhstan’s nascent stock exchange, the AIFC Exchange. The exchange is targeted to launch in late-2017.

Payments

Afterpay Says ‘Trade Me’ In First International Deal

David Swan – The Australian

Sydney-based retail payments start-up Afterpay has landed its first international deal, signing up with New Zealand marketplace and classifieds website Trade Me.

Afterpay managing director Nick Molnar said Trade Me will offer Afterpay’s ‘buy now, receive now, pay it in four’ option exclusively on its platform, allowing Afterpay to acquire New Zealand customers and retailers.

FAO: AfterPay is the online payment method that allows paying for online purchases after receiving them.

Lending

The Other Credit Risk To Watch In China: Fintech-Fuelled Debt

Clancy Yeates – The Age

Nowhere are the large potentially huge benefits of fintech – and longer-term risks – clearer than in China.

FinTech People

Financial Standard piece – Chief product and platform officer Duncan Ritchie will hand his responsibilities as head of small business products to former chief data officer Tony Stewart, following his decision to take an extended period of leave.

Arkansas Business piece – Wayne Miller has been selected to lead the Venture Center’s global VC FinTech Accelerator program in Little Rock. As managing director, he is responsible for leading the program, a collaboration empowered by FIS, to invest and grow financial technology companies.

Latest FinTech developments & agreements

Fintech Bridge Links Singapore And Denmark

Finews

Copenhagen Fintech and the Singapore Fintech Association have signed a Memorandum of Understanding, to kick-start the exploratory process between the associations.

Malaysia Opens Fintech Sandbox

Finews

Bank Negara Malaysia (BNM) has recently issued licences to four companies to operate within its «regulatory sandbox,» these include foreign as well as locally run businesses.

GoBear and GetCover are both financial advisers and insurance aggregators while WorldRemit and MoneyMatch are allowed to conduct remittance services while the latter is also enabled to provide money changing services.

Accelerators & Hubs

Did Someone Cancel The Fintech Revolution?

Finextra

The Accenture report says that these promises have yet to come to pass; old fashioned banks are still standing, and perhaps standing still, while startups have yet to gain real traction in customer acquisition and seen their VC investment decline by more than a third in the last year.

Nevertheless, Accenture suggests that the revolution is more likely to be stalled than dead. The firm argues that the UK can establish itself as a leading exporter of fintech R&D, helping individual firms monetise their expertise and ‘UK plc’ build the county’s digital reputation.

Poland Aspires to Become a Fintech Leader in Europe

JD Alois

FutureTech Congress organizers are reporting that Poland aspires to become a Fintech hub in Europe.

Russian Banks and Mastercard Pick Fintech Startups For Moscow Accelerator

Finextra

Russian financial institutions working together within the framework of collaborative fintech acceleration programme Fintech Lab, namely Ak Bars, VTB 24, Bank Saint Petersburg, Home Credit Bank and Absolut Bank picked 12 fintech startups they are going to mentor and guide through the acceleration programme.

Analysis

Fintech: Boom or Bubble?

Scott Phillips – Fool

FAO: What do you think? Send me your feedback/opinion and I will publish it in tomorrow’s issue.