Global FinTech News - 10th of July

Fintech news this week has some quite interesting developments. A coalition for transaction monitoring has been undertaken by 5 Dutch banks to fight against money laundering. Google and Deutsche Bank formed a partnership. And in the wake of the Wirecard fraud, Pine Labs might win a new business in India. Other news we covered for this week include SoFi’s application for a national bank charter, MSA Africa acquiring digital payments player, Beyonic, the Click to Pay trend, Ant Group selling shares and DocuSign launching a new product.

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There were so many interesting funding deals this week, that we included more than you are used to from us. In spite of Covid-19, funding series continue for the fintech start-ups. InsurTech PolicyBazaar received funding from SoftBank - $130 million (€115m). Interestingly, digital signature platforms have gained popularity, with Notarize receiving funding from Camber Creek and Polaris Partners. Ping An and JPMorgan collaborated on a $60 million (€53m) financing round in supply chain finance outfit Taulia.

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The latest research by Karat focuses on the current pandemic, which poses challenges for hiring managers especially for the software engineering domain. Middle East Fintech faces the same challenges as the US and Europe, according to Deloitte. Appen Limited emphasized the rapid expansion of AI technology. RegTech stays on top of its game and funding drops for start-ups this year compared to last year, even though Insurtech and Regtech are on the rise, according to research by Fintech Global, CB Insights and Crunchbase.

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We have conducted an extensive member survey in collaboration with FinTech Aera to measure and validate the current market pulse. This research was done just before and during the peak of the Corona outbreak and gives nice insights into the market’s opportunities and challenges.

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This week’s analysis and opinion section, captures new insightful information and background analysis of fintech developments. We have opinion pieces by The Retail banker International on what the analytics of twitter tags tell us. We also share a piece concerning the UK Bounceback Loan scheme by the UK Chancellor, and a piece by Ammar Akhtar from Yobota, who claims the fintech revolution is on hold. Flagship advisory partners writes about the UK payments landscape, and pieces about a solution for human trafficking, Decentralised finance (DeFi) and cloud adoption by financial institutions.

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