FinTech Daily News – Edition 98, 20.11.2017
November 20, 2017
FinTech Daily News – Edition 100, 22.11.2017
November 22, 2017

FinTech Daily News – Edition 99, 21.11.2017

FinTech Daily News

by Florin Oprea

Edition 99, 21.11.2017

Deals, Investments & M&As

Fintech Startup Glint De-Cloaks To Offer A Multi-Currency Account And Card That Supports Spending Gold

Steve O’Hear – TechCrunch

London-based Glint is finally de-cloaking with a staggered launch of its multi-currency account, app and card that does indeed let you store your money in gold and convert it back to fiat currency at the point of payment.Initially, Glint, which is regulated by the FCA under an e-money institution license, is supporting Sterling and gold, with more currencies to come.

DNT: Back in August, (Deals, Investments and M&As section) when we covered this topic for the first time, Florin promised that we’ll keep an eye on this project. And we did. So, Glint launched this app and card and it looks like a major step in turning gold into a global currency. The startup said the rates between currencies will be “the real exchange rate.” A major advantage is that the Glint card is a Mastercard so it’s widely accepted. Now, let’s see how this will work.

German FinTech Company Naga Group Launch Token Pre-Sale

The Merkle

The Naga token pre-sale will end on November 27, 2017, or when the presale token supply (20 million NGC) sells out.

DNT:  In this summer, more exactly in July, Naga completed its IPO in the Frankfurt stock exchange segment “Scale” – reported here. Back in March, the company raised $12.5M in a Series A funding round led by China’s Fosun Group. The fintech startup was also the subject of an investigation of Germany’s financial regulator BaFin on suspicion of market manipulation,  just 10 days after  Naga was listed on the Frankfurt stock exchange.  

Fintech Start-Up Douugh Scores Partnership With US Mutual Bank Choice

Yolanda Redrup – Financial Review

Sydney-based fintech start-up Douugh has scored a partnership with US mutual bank Choice Financial, as it readies to launch its smart banking personal assistant, Sophie.

As part of the open banking partnership, Douugh will launch an integrated bank account and debit card with the bank, giving it the ability to accept deposits.

DNT: Choice Financial has also invested in Douugh, as part of a $2.5 million seed round, as we are informed in the story.

Fintech Firm Preselling Cryptocurrency For Retail Markets

Business Mirror

Fintech service firm Appsolutely begins pre-selling RoyalCoin cryptocurrency as a prelude to its token-generating event on December 11. Appsolutely will release 4.75 billion LYLs to the public. Currently, $1 can buy 250 LYL, while P1 can buy 5 LYL.

Payments

AIB Invests €30m In Fntech Player TransferMate

John Kennedy – Siliconrepublic

AIB makes a strategic bet on the digital future as Brexit storm clouds gather. AIB has invested €30m in cross-border B2B payments player TransferMate, in a move aimed at reducing international payments costs for business customers.

Lending

Monzo CEO Tom Blomfield Was Clear To Stripe Founders: We Have No Plans To Be Acquired

Ryan Browne – CNBC

U.K.based start-up bank Monzo will not be bought up by a larger player, its chief executive told CNBC.The mobile app-based lender revealed earlier this month that U.S. payments unicorn Stripe was one of several investors to participate in a £71 million ($93 million) funding round.

DNT: More information about  Monzo funding round – here, in Retail banking section After the investment,  Monzo said it is now worth $366 million.

Business tech

BlackRock Is Launching New Active ETFs That Are Built by Bots

Rachel Evans, Sarah Ponczek – Bloomberg (subscription)

BlackRock Inc.’s exchange-traded fund business is getting a machine-made makeover.

After building a $1.3 trillion ETF empire on the back of passive funds, the world’s largest asset manager is readying a suite of actively managed equity ETFs designed by…robots. At least seven funds branded ‘‘iShares Evolved’’ will invest in sectors such as innovative health care, media and entertainment, and technology.

DNT: So, AI is meant to help humans, not replace them…At least, that is what Robert Kapito, the cofounder and president of the asset management giant said. More exactly, he said: “artificial intelligence will never fully replace humans in the investment world”. Check here for details.

BBVA to Launch Mobile Iris Scanner Through Partnership With Samsung

Grace Noto – Bank Innovation

Spanish bank BBVA will integrate a biometric authentication feature into its mobile app, allowing users to log into their app via iris scan.The feature, announced will use Samsung’s iris scanning technology, recently updated along with its other biometric capabilities, according to the company.

Wealth & Personal Finance

Acorns Integrated Into The PayPal Experience To Help Anyone Grow Wealth

Business Insider

Acorns is now being integrated into the PayPal experience. Select U.S. PayPal customers will be able to set up and use Acorns within PayPal, with access for all U.S. users beginning in early 2018.

DNT: In a recent interview, Acorns’ CEO, Noah Kerner, said that he wants his app to be used by every american with a household income under $100,000.

Cap Markets & Other

Nex Group To Deepen Cost-Cutting As First Half Profits Drop

Philip Stafford – Financial Times (subscription)

NEX Group Reports Strong Revenue Growth In 1H-2018, Including At Forex ECN Unit EBS

Leap Rate

Electronic trading firm NEX Group has reported its results for the first half of Fiscal 2018 (for the six month period to September 30, 2017, fiscal year-end is March 31, 2018), indicating healthy continued Revenue growth in some of the company’s key units, including its Forex ECN unit, EBS.However profits were down, as the company will be looking to cut costs in the coming months.

Crypto Futures Are Taking Off

Maria Terekhova – Business Insider

There has been an increase in incumbent financial institutions looking to make Bitcoin futures products available to give investors a new way to access the booming market. Two more players have now joined the trend — specialist bank Vontobel and investment solutions provider Leonteq, both based in Switzerland, each listed Bitcoin futures products on the SIX Exchange.

Latest Developments & Agreements

Robeco Launches Fintech Fund For Retail Investors

Daniel Lanyon – Alt Fi News

Asset manager Robeco has launched a new fund targeting listed fintech firms as well as those incumbents investing in fintech. The Robeco Global FinTech Equities fund will hold a concentrated portfolio of companies aiming to benefit from the increasing digitisation of financial services.

Singapore’s Fintech Dive Now Delves For Proof Beyond Concept

Janie Lee  – The Business Times

Of the numerous announcements made by the Monetary Authority of Singapore (MAS) during the Singapore FinTech Festival, one of the most significant is the partnership between Singapore and Hong Kong to build a blockchain-powered trade network.

Fengming Intelligent Financial Information Platform Beefs-Up With Information And Analysis Section

PR Newswire

Phoenix Finance announces to embed a new information section into its signature Fengming Intelligent Information Engine to provide professional – advised financial analysis and trend forecast.

Accelerators & Hubs

Goldman Sachs To Have Post-Brexit EU Hubs In Both Frankfurt And Paris

David Keohane – Financial Times (subscription)

Goldman Sachs chief executive Lloyd Blankfein confirmed his bank would have hubs in both Frankfurt and Paris after Brexit as he prepares to shift jobs out of the UK. IMr Blankfein said the US bank will “not have a single centre, but two, in Frankfurt and Paris, because they are the two largest European economies.”

DNT: Do you remember Mr. Lloyd Blankfein tweet from October? He said he will “be spending a lot more time” in Frankfurt after enjoying “great meetings, great weather” Guess he discovered there is a nice weather in Paris too, don’t you think?

Analysis

The Relationship Between FinTech and Trust in Banking

The Market Mogul

Despite the proliferation of technology in the forms of apps and social media, customers have growing concerns regarding cybersecurity issues and privacy, including the storage of their personal information by companies.

DNT: An interesting analysis about  the spectacular rise of technologies vs. human interaction and trust.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News