by Florin Oprea
PPRO Group and Klarna will partner to enable Payment Service Providers to offer credit-based payments through PPRO’s payment hub to European merchants, risk-free.
DNT: Another good partnership that involves Klarna, one of the “stars” of Europe’s fintech. This will provide access to Klarna services and consumers across Sweden, Norway, Finland, Denmark, the Netherlands, Germany, Austria, and the United Kingdom, as we are informed.
Swiss fintech Crealogix announced the expansion of its business activities in the Asia Pacific region. The firm has a strong presence in the private banking and wealth management segment. With the opening of a new Singapore unit Crealogix hopes to penetrate Asia-Pacific
Angus McNeice – China Daily
Yimian Wu – China Money Network
China continues to dominate the fintech landscape, accounting for 5 of the top 10 fintech companies globally in 2017, according to a report by KPMG and H2 Ventures, which compiles a list of the year’s best fintech innovators from around the world.
DNT: Alibaba, ZhongAn Insurance and Qudian are, in this order, on the first 3 positions.
Angus McNeice – CNBC
American Express and Santander have partnered with financial technology firm Ripple to speed up cross-border payments between the U.S. and the U.K. by using blockchain technology.
JP Buntinx – The Merkle
In an email sent to business customers and partners the company acknowledged it received an inquiry from the Canada Revenue Agency. It seems the CRA demanded information on PayPal business account holders who received or sent payments between January 1, 2014 and November 10, 2017. The recent cutoff date seems to indicate some suspicious activity has been recorded, although no further specifics were provided in the email.
DNT: A lot more informations about PayPal recent activity in our free Archive.
Jeremy Kahn – Bloomberg (subscription)
TransferWise said revenue in the fiscal year through March 2017 has more than doubled, allowing the company to post its first annual profit.
DNT: TransferWise has been very active with a lot of announcements about investments. Read here and here. The company is valued at $1.6 billion. More about its most recent $280M Investment – here – Deals & Investments category.
Kabbage announced a new $200 million asset-backed revolving credit facility with Credit Suisse, a global financial institution. The new facility diversifies Kabbage’s funding sources, enables the company to scale faster, and establishes another committed source of capital to propel future growth.
DNT: Kabbage seems very active. Recently the Atlanta unicorn and another big name – ING announced the expanding of their partnership into France and Italy to provide automated small business lending.
The Luxembourg Bankers’ Association and its Foundation for Financial Education in cooperation with the University of Luxembourg and its Interdisciplinary Centre for Security, Reliability and Trust launched a joint research project on the distributed ledger prototype and data analytics for KYC (Know Your Customer).
SnapLogic and CSC BRASIL announced a strategic partnership to help organizations in Latin America improve business processes, accelerate decision-making, and drive better business outcomes.
The Baltic Course
BlackRock will ensure financial risk management for the Bank of Latvia in the coming five years, the bank reported.
Shares of Jianpu Technology rose as much as 3.8 percent in their U.S. market debut on Thursday, giving the Chinese online financial planning platform a market value of about $3.42 billion.
Wong Kai Yi – Straits Times
Industry and academia are joining forces to help equip Singaporeans with the skills to take up infocomm technology jobs in the financial industry.The Memorandum of Intent (MOI) was signed by the Infocomm Media Development Authority and Monetary Authority of Singapore and is part of the TechSkills Accelerator FinTech Collective.
Oscar Williams-Grut – Business Insider
Trade body Innovate Finance has published its annual list of women in fintech, aiming to give role models to young women thinking of entering the sector.
Priyankar Bhunia – OpenGov Asia
The Bangko Sentral ng Pilipinas and the Monetary Authority of Singapore signed a FinTech Co-operation Agreement to promote innovation in financial services in their respective markets. The BSP-MAS CA was signed at the sidelines of the 2nd Singapore FinTech Festival.
JD Alois – Crowdfund Insider
Rainmaking Colab, created by the founders of Rainmaking and Startupbootcamp Fintech, are launching a new innovation program designed to help industry incumbents address real business problems.
Elizabeth Balboa – Benzinga
The fintech firm is piloting a feature on its Cash platform to facilitate the buying and selling of the cryptocurrency coin. Analysts consider the fintech disruptor well-suited to lead the industry in crypto-based innovation.
Jennifer Thompson – Financial Times (subscription)
The European Securities and Markets Authority plans to carry out further work on closet tracking — in which asset managers charge high fees for active management of funds that closely mimic their benchmarks — by collecting evidence from national regulators across the bloc.
Rennie Bradshaw – Hitech News Daily
Saudi Arabia Government said it has plans to make it easier for foreign companies to avail license for a startup launch in the kingdom. It is a part of the strategy to spur growth in non-oil private sector and open the economy of the country.
Huw Jones – Reuters
Financial markets face Brexit day upheaval if clearing houses in Britain are abruptly cut off from continental customers, a senior JPMorgan bank official said on Wednesday. Sally Dewar, international head of regulatory affairs at the U.S. bank, said that without European Union recognition of UK clearers before Britain’s departure from the bloc in March 2019, there could be significant market disruption.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News