FinTech Daily News – Edition 91, 09.11.2017
November 9, 2017
FinTech Daily News – Edition 93, 13.11.2017
November 13, 2017

FinTech Daily News – Edition 92, 10.11.2017

FinTech Daily News

by Florin Oprea

Edition 92, 10.11.2017

Deals, Investments & M&As

Cryptocurrency Mania Fuels Hype And Fear At Venture Firms

Wired

If investing is driven primarily by greed and fear, few subjects elicit either more greed or more fear among venture capitalists than cryptocurrencies. Some big-name venture investors, including Andreessen Horowitz and Sequoia Capital, are plunging deeper into the arena, excited by the prospect of big returns, and perhaps, changing the nature of venture investing.

FAO: The new trend is catching up. Any reader of this daily bulletin knows it. Of course, it will take some time for VC funds to adapt to the new model, but hey, it took the world 80 years to go through the industrial revolution…and I reckon some regions are still in the “dark ages”…time will tell…

Insurance

China’s Online Insurers, Led By ZhongAn, See Losses Mount Despite Surge In Premiums

Xie Yu – SCMP

China’s four licensed online only insurers have been unable to post a profit despite a 134% jump in premium income to 6.4 billion yuan (US$965 million) in the first three quarters of the year, according to data from the China Insurance Regulatory Commission.

FAO: In H1 ZhongAn, for example, paid almost $30m for “technical and service support”, in essence online distribution services, to Ant Financial, Tencent’s WeChat and online travel agency Ctrip. Something tells me we’re going to see a change…

Business tech

Xero Plans Shift To ASX As It Narrows First-Half Net Loss

Jonathan Underhill – Scoop

FAO: The cloud-based accounting software firm from New Zealand wants to grow, so it’s shifting to ASX. The firm has managed to create an ecosystem of more than 500 add-on partners and its current market cap is above USD 3B.

Wealth & Personal Finance

Wells Fargo Lifts Curtain On Its Robo-Advisor

Maria Terekhova – Business Insider

Wells Fargo has launched its automated investment solution, Intuitive Investor, which it has been working on with fintech SigFig since last year. SigFig is an automated investment fintech with a consumer-facing offering of its own, but it also acts as a technology supplier for incumbents.

FAO: Woo hooo! Now banks are building their own robos. Told you it’s the rise of the robos. Check our Archive! BTW I saw a lot of you started to use our Archive quite frequently! It means you have finally realized how useful it really is! And FREE! Now, please help us too, and “share” us on Facebook, Twitter and Linkedin, and/or drop a coin, or two, on our Donations Page! Thanks!

Can Fintech Save Swiss Private Banking?

Matthew Allen –  Swiss Info

“Fintech is not a silver bullet for the industry but it is absolutely necessary for banks to go down the road of digital transformation,” Matthias Bossardt, head of cyber security at KPMG Switzerland, said.  KPMG’s predicts that many Swiss private banks will disappear as costs rise, margins shrink and clients play hard to get.

FAO: Let’s ask our Swiss friends in fintech? How are things shaping up in the Crypto Valley? Or check the Blockchain Daily News Archive.

Retail banking

The Good Reason Why Banks Make Bad Fintech Partners

Kristin Broughton – American Banker

Banks admit it — they are annoying fintech partners. There are the layers upon layers of compliance, the cautious corporate cultures, and the relentless focus on efficiency.

FAO: This banks-fintechs love and hate affair goes on and on just like “The Young and the Restless” series…

Cap Markets & Other

Square Filed A Crowdfunding Patent That Was Granted In September 2017

JD Alois – Crowdfund Insider

Square, the massive payments platform that is slowly moving into online lending, filed a for a patent back in March of 2015 that was granted just a few weeks back (September 2017).

DNT: More coverage about Square’s efforts to expand its lending business, here.

FinTech People

Via Venturebeat – Former CFO of Torrent Technologies and CoreHR, Shaun Wiley, appointed as CFO by Zenefits

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News