Weekly Research Highlights – 1 December 2020

For this research piece, we crunched the latest figures and numbers and brought you once again the latest reports from fintech. We look at the Vietnamese startup map, check the latest solutions for AML compliance, dive into the risks posed by stablecoins, shift the focus from KYC to KYB, see the most well-funded tech startups in the US, and provide insights into the East African insurance sector.

Happy reading!

The first quarter of 2020 saw the highest number of large RegTech deals as investors scaled back post Covid-19 (Fintech Global)

In a recent analysis by Fintech Global, it is emphasized that the top 10 RegTech deals in the first nine months of 2020 raised in aggregate $1.8bn, making up 38.2% of the total funding in the sector for the period. US companies continue to dominate the RegTech sector, capturing seven out of the top ten deals. Read more

2020 Fintech Vietnam Report and Startup Map: Fintech Startups Tripled since 2017 (Fintech News Singapore)

This recent analysis report highlights that between 2017 and 2020, Vietnam’s fintech startup landscape more than tripled. The findings show the domestic fintech landscape, key industry trends, and the local fintech startups ecosystem. While the Vietnamese payment startup sector continues to see a rise, the most prominent fields which capture the investors’ attention so far are peer-to-peer (P2P) lending and the crypto/blockchain space. Read more

E-book: The dawn of end-to-end AML compliance (Jumio)

Firms are being constantly required to avoid compliance mistakes and meet their regulatory obligations, but this is rarely the case in practice. The main obstacles involve a lack of resourcing and the reliance on legacy systems that can’t keep up with the changing trends in financial crimes. The findings of the e-book present a complete overview on AML compliance solutions, that are simplifying both the fight against financial crime and the struggle to achieve AML compliance. Read more

Stablecoins: risks, potential and regulation (BIS)

In this paper, authors Douglas Arner, Raphael Auer and Jon Frost explore whether central bank digital currencies (CBDCs) and other initiatives could in fact provide more effective solutions to fulfil the functions that stablecoins are meant to address. Moreover, authorities around the world are struggling with the rise of digital currencies and DeFi based on both emerging technologies, and advances in traditional centralised systems underpinning finance. Read more

Digital KYB – a springboard to customer onboarding success (Fintech Futures)

Financial institutions continue to struggle when it comes to the topics of AML and KYC. With banks and financial institutions focusing on having control of their KYC processes and frameworks, regulators are also structuring new frameworks in order to ensure proper checks. New requirements need to be able to pinpoint accuracy on the ultimate beneficial ownership. Know your business (KYB) processes can improve the efficacy of these checks through the addition of automated verification and information analysis. Read more

The United States Of Startups: The Most Well-Funded Tech Startup In Every US State (CB Insights)

With hotspots for tech startups such as California, New York, and Massachusetts, the trend is now spreading across the entire US. In terms of fintechs, the analysis pinpoints companies such as Minnesota-based Arctic Wolf Networks, which most recently reached an unicorn status. The cybersecurity company reached a $1.3B valuation following its Series E round in October 2020. Read more

Insurance Outlook Report 2020/21 East Africa (Deloitte)

While insurers have been able to overcome the damaging impacts of large loss events such as COVID-19, the impact on insurance companies’ profitability is still uncertain  as it will take time for businesses to recover. With stock markets showing declines in performance and flattening yield curves, insurers are set to experience poor performance in their investments and this will flow through to their bottom line results. Read more

Economic and social opportunities of AI for the Netherlands (McKinsey)

With AI gaining more momentum each day in the financial industry, the economic potential still remains uncertain for countries such as the Netherlands. The findings of this report shows that if Netherlands is able to fully adopt AI, economic growth through the use of AI could reach up to 1.2% GDP per year. Furthermore, in addition to the economic benefits, AI will also have a positive impact on society and overall welfare. Read more

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