by Florin Oprea
Sarah Perez – TechCrunch
PayPal announced it has agreed to sell $5.8 billion in consumer credit receivables to Synchrony Financial, in an expanded relationship between the companies. The deal also includes Synchrony’s acquisition of $1 billion in participation interests in PayPal receivables held by certain investors and a chartered financial institution, the company said.
Lizette Chapman – Bloomberg(subscription)
Becky Peterson – Business Insider
Peter Thiel is no longer working with the startup incubator Y Combinator.Thiel, who is an influential but contentious figure in the tech community, started as a part-time advisor with Y Combinator in 2015. His departure was announced without much to-do through an updated blog post on the Y Combinator website that said simply: “Peter Thiel is no longer affiliated with Y Combinator.”
DNT: Hmmm…I would like to know much about this “divorce”…and the reasons that provoked it..For now, representatives for Thiel and Y Combinator did not respond to a requests for comment, as we are informed. But we will follow the subject.
Karen Yeung – SCMP
Privately owned Hong Kong investment manager has partnered with Tianhong, best known as being an affiliate of Alibaba Group’s mobile payment platform Ant Financial and for creating Yu’e Bao, the nation’s largest mutual fund.
Anthony Karcz – Forbes
It turns out, there was a lot more than anyone expected packed into Apple’s iOS 11.2 Public Beta! Not only are we getting our first look at Apple’s Venmo killer, Apple Pay Cash, this point update to iOS will finally unlock fast wireless charging for equipped iPhones (the iPhone X and 8) when using certified Qi chargers.
DNT: Until now, November was a buzzing month for new payments features and we can only enjoy it. More about the launch of Beta Apple Pay Cash – here, in our Payments Section.
Below, a quick update of the most important news in the field:
– Facebook launched P2P payments via Messenger – read here;
– payments app Paytm also launched a chat – more informations here.
You can also check our Archive for more stories on this topic.
Max Mason – Australia Finance Review (subscription)
Facebook’s challenge to Australia’s big banks is coming as early as 2018 when the social media giant is expected to introduce peer-to-peer payments within its messenger service, hut on the heels of local banks expected launch of their own P2P payments network.
Antony Peyton – Banking Technology
Here’s an unusual request. If you are the owner of a small or medium-sized bank in the US and are ready to sell it completely (or partially) – you have a buyer! Vladislav Solodkiy, managing partner at venture capital (VC) firm Life.Sreda plans to use the bank for his new project Arival, “the first crypto-friendly fintech bank”.Like many others, Arival will be a neo bank, and combined with other start-ups to provide a range of financial services.
Erin Hobey – Crowdfund Insider
In a recent blog Orchard Platform posted initial research how much Hurricanes Harvey and Irma affected the U.S. unsecured consumer lending industry. According to Orchard Platform, approximately 91% outstanding loans in Florida were in designated FEMA disaster areas including metropolitan areas Tampa, Orlando, Miami and Jacksonville.
Rimes Technologie has won ‘Most Innovative Benchmarks Regulation Solution’ at the RegTech Awards 2017 in New York with its innovative RegFocussm BMR.
Jasper Jolly – CITY A.M.
The German financial capital, Frankfurt, has emerged as the favourite to win a bid to host the relocated European Banking Authority after Brexit, closely followed by Austrian capital Vienna.Eight European cities are jostling for support in their attempts to secure the agency in a secret ballot of all 27 remaining EU nations. The EBA supervises banks throughout the European Union, including non-Eurozone members.
DNT: It’s getting more and more clear, Frankfurt is gaining a lot of speed as the financial capital of Europe…Big players like Morgan Stanley, Citigroup, Standard Chartered and Nomura chose, so far, to relocate there in order to access the EU single market. So, it will be no surprise if EBA will also relocate there. Check our free Archive, Frankfurt is a constant presence in our daily bulletin.
Babu Das Augustine – Gulf News
The banking industry across the world is facing digital disruption and banks including those in the Middle East have little choice but to join the bandwagon to protect their market shares and some lines of businesses that face existential threats, Ronit Ghose, a Citigroup official, said.
Marc Shoffman -P2P Finance News
Technology professionals in London are more likely to search for jobs outside of the capital than other types of candidates, putting the city’s status as a fintech hub at risk, Indeed claims.
China Citic Bank Corp and search engine giant Baidu Inc launched a direct banking joint venture, dubbed AiBank, to capitalise on China’s rapidly growing fintech sector.
F10, Switzerland’s leading FinTech startup accelerator and incubator, announced that Zürcher Kantonalbank, Switzerland’s largest cantonal bank has joined as a corporate member, effective as of December 1st, 2017.
Blossoming fintech growth in Brazil, Russia, across Africa and in Turkey looks so promising in the view of analysts at U.S. bank Citi that they have given them their very own acronym – the “BRATs”.
The Monetary Authority of Singapore has launched a SG$27 million Artificial Intelligence and Data Analytics grant under the Financial Sector Technology and Innovation scheme. This is in a bid to promote the adoption and integration of AI and data analytics in financial institutions.
Times of India
The first French Tech Hub in India would be established in Bengaluru with international collaborations on R&D under an MoU signed by the Karnataka government and Business France India.
Lora Kolodny – CNBC
Benchmark general partner Bill Gurley called on Silicon Valley’s “unicorn” start-ups to grow up, get profitable or go public.
Jennifer Hughes ,Julie Zhu – Business Insider
It’s not often Hong Kong can boast hotter IPOs than New York, but some recent deals and a potential pipeline of big Chinese tech floats suggest a shift in the balance between the two fundraising rivals.
DNT: An Interesting analysis of investors interest in Hong Kong where there is a favorable context brought by Chinese fintech deals and the growing number of fintech companies who want to list in Hong Kong.
Stephanie Forshee – Yahoo Finance
DNT: Two opinions from Federal Reserve System governor Lael Brainard about hot topics: consumer protection and how traditional banks should help govern fintech. Brainard suggested that fintechs can find at the biggest players in the search engine and product comparison areas some clues about how to manage advertising and disclosures issues She also said that traditional lenders should demand that online financial companies protect consumer privacy and money interests. What do you think? Send us your thoughts.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News