by Florin Oprea
Cromwell Schubarth – Silicon Valley Business Journal
JPMorgan has agreed to buy fintech startup WePay so that it can offer its technology to its 4 million small-business customers.
FAO: Before being bought, WePay reached $74m in funding in six rounds, with the first in 2009. Jamie’s team is “stepping on the deals’ pedal”. Earlier this month JPMorgan, together with Temasek Holdings, led a $100m investment in Bill.com.
Jonathan Shieber – TechCrunch
Despite a continuing economic crisis, Brazil’s technology startups are continuing to attract cash and financing, with the mobile personal financial service GuiaBolso raising $39 million in fresh funding.
Lynsey Barber – City A.M.
More than $1bn has already been ploughed into technology firms hoping to disrupt finance this year by venture capital investors, more than double the amount this time last year according to fresh data from London and Partners and Pitchbook.
DNT: Very impressive! And despite Brexit, London has all the chances to remain the fintech leader of Europe.
FAO: It was a fabulous year for the entire fintech industry, globally. This is why the following question arises: Is this a peak? We have asked ourselves this question several times this year. We strongly believe it is. We shall but see.
They’ve made billions of dollars helping sell everything from iPhones to hairdryers on China’s burgeoning online shopping platforms. Now, tech giants led by Alibaba’s finance affiliate are making money off the loans consumers use to buy those products.
FAO: Clever clever…Looks like Ant Financial sold $23b of ABS backed by consumer loans in 2017.
Lucas Mearian – Computerworld
JPMorgan has created what is arguably one of the largest blockchain payments networks to date.The financial services company announced that the Royal Bank of Canada and Australia and New Zealand Banking Group are the first two banks to join the blockchain network, “representing significant cross-border payment volumes.”
DNT: It’s getting obvious…JPMorgan really loves blockchain!!!
FAO: Yeah, yeah, and all that Jamie is allowed to say about this is “Blockchain good, bitcoin bad”. Don’t know what I’m talking about, right? Well, read Blockchain Daily News!
The Innovation Hub is a partnership model that gives banks a rapid and cost-effective means to explore new product opportunities, from proof of concept, prototype development, to final production and service deployment, either on cloud or on premise.
JD Alois – Crowdfund Insider
PayPal has partnered with Kiva to help provide loans to entrepreneurs. This is the second time PayPal and Kiva have empowered PayPal users to provide loans while receiving a Kiva credit. Last year the campaign say more than 10,000 PayPal customers and employees make loans to entrepreneurs around the world.
FAO: Win-win-win. Right?
Shoshanna Solomon – Times of Israel
Israeli startup Innovative Assessments says financial lenders like banks are missing out on huge numbers of potential clients because their criteria for handing out credit are too stringent and do not take the full picture of the client into account.
DNT: Yeah, good point, this is a real problem of banks around the world. Luckily, we live
“In The Golden Age Of Fintech”, as we reported in our previous edition. And looks like the giants of the banking world are more and more interested in embracing the new technologies. See a few lines above – JPMorgan’s shopping spree- and check yesterday’s Blockchain Daily News bulletin – the one about Goldman – “one of the most active Blockchain Investors”.
Oh, Australian banks are also in the game…Check the next story.
A new report from KPMG has found that Australian banks are ahead of global financial institutions on fintech engagement, collaboration and innovation.
JD Alois – Crowdfund Insider
The Financial Markets Authority in New Zealand and the Australian Securities and Investments Commission have reaffirmed their collaboration on the expanding opportunities in Fintech innovation.
FAO: I wonder how these Agreements/MoUs/Partnerships regarding collaborations in fintech and blockchain materialize…Do they really exist? Are real things actually happening, or it’s just PR hype?
Via Business Wire – Zenefits appointed former VP of Grand Rounds, Souvik Das, as SVP of Engineering.
57% of financial institution respondents say fintech is the greatest source of disruption; only 46% say their institution has a fintech strategy in place, according to a KPMG report.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News