View profile

Global FinTech News - 11th of February

Global FinTech News - 11th of February
By Holland FinTech  • Issue #85 • View online
Hello dear reader,
This week’s headlines surrounded Tesla’s $1.5bn investment in Bitcoin, with the cryptocurrency powering to a record high and approaching the $50,000 mark. At the same time we saw Amsterdam surpassing London in Stock trading volume, after several trading forms moved due to Brexit. We invite you to explore the latest highlights from fintech - M&A, digital assets, bank deposits, InsurTech, financial crime and more!
This Friday morning, our Founder & CEO, Don Ginsel, explored the latest developments in Robotic Process Automation (RPA) in today’s Flash Friday edition, together with Maurits Houck, Regional Managing Director at UiPath (which last week raised USD 750 million at a valuation of USD 35 Billion). Check out the video recording here.
From the Holland FinTech Team, we wish you a happy weekend!

Highlights from last weeks news related to fintech
Bitcoin, E-youan, credit bureaus, blockchain and another SEC investigation. Explore this week’s selection of fintech news below:
  • Amsterdam surpassed London as Europe’s largest share trading centre
  • Google launches paid-for Australia news platform: The News Showcase
  • Clover Health, a Health Insurtech company, is currently under investigation launched by SEC, in response to the allegations brought by short-seller Hindenburg Research
  • PayPal is shutting down its domestic business in India, mainly due to a shift in priorities
  • In the US, Paypal’s Venmo is facing investigations from the Consumer Financial Protection Bureau
  • SWIFT announced it has set up a joint venture with the Chinese central bank’s digital currency research institute and clearing centre
  • Japanese bank deposits are experiencing a surge, with companies and households continuing to hoard cash, following worries about the Covid-19 pandemic
  • ANZ, Commonwealth Bank of Australia, Westpac, IBM and Scentre Group are to formally launch a blockchain-based guarantee issuing platform
  • Equifax has acquired AccountScore, an analytics business, in order to combine Equifax’ traditional credit bureau information, with bank transaction data
  • The Big 3 US Credit Bureaus, TransUnion, Equifax, and Experian, are expected to be rivaled or perhaps even replaced by a national public credit reporting agency housed in the Consumer Financial Protection Bureau
  • After the announcement this week of Tesla investing $1.5bn in Bitcoin, the cryptocurrency powered to a record high, approaching the $50,000 mark
  • Beijing and Suzhou issued a total of 40 million yuan (US$6.2 million) in the latest trials of the Chinese Central Bank Digital Currency (CDBC) this week in a bid to boost consumption over the upcoming Lunar New Year holiday
Read more about this news HERE.
hollandfintech.com  •  Share
The largest funding rounds we found from across the world
New transactions and deals are emphasized this week from InsurTech, financial services, neobanks, mortgage providers, micro-lending firms and more. Dive into the funding rounds, ranging from 3 February to 10 February:
  • Splitit (New York, US), a company that allows consumers to make payments in easy installments using their credit cards, has secured a $150 million (€123.68m) credit facility from Goldman Sachs
  • Stash (New York, US), a provider of a finance app for people to build diversified investment portfolios, raised $125m (€103.07m) in Series G funding
  • Rhino (New York, US), an InsurTech company, raised $95m (€78.33m) in funding
  • Monzo (London, UK), a challenger bank that allows customers to access a range of products and services, is expected to raise a £50 million (€57.1m) extension in Series G
  • Valon (New York, US), a tech-enabled residential mortgage provider, raised $50m (€41.23m) in Series A funding
  • DealerPolicy (Burlington, US), an insurance marketplace for automotive retail, raised $30m (€24.74m) in Series B funding
  • SATYA MicroCapital (New Dehli, India), a micro-lending firm, has reportedly secured $21 million (€17.32m) in funding from Japan’s Gojo & Company
  • Other funding rounds that we found interesting for this week to include: Fair (€16.49m), Mesh Payments (€10.72m), Flink (€9.89m), NymCard (€6.27m), TrustLayer (€5.45m), Twinco Capital (€3m), Wombat Invest (€2.28m)
Read more about this funding news HERE.
hollandfintech.com  •  Share
A selection of recent research reports and papers worth reading
More trends and views from industry reports. InsurTech, RegTech, M&A, lending, analytics:
  • “Insurtech investment hit $7.1bn in 2020: WTW” (Reinsurance News) - a new report by Willis Towers Watson found that global insurtech investments reached a record $7.1 billion in 2020 despite substantial challenges in the field
  • “Fintech regulation: How to achieve a level playing field” (BIS) - in this paper, the importance of helping to achieve a level playing field in the provision of financial services is highlighted as an essential step within setting up a regulatory framework
  • “The Future of Regulation 2021” (Finextra) - while financial services are still confronted with growing cyber threats, AML and fraud regulations are clamping down on crime
  • “2020 Tech Highlights: The Year’s Biggest Deals, Most Valuable Acquisitions, And More” (CB Insights) - in this update, an overview on the tech industry in 2020 is presented, looking at mega-rounds, tech leaders’ outsized public market performance, and 2020’s biggest M&A trends
  • “Will COVID-19 turbo-charge M&A and transformation?Will COVID-19 turbo-charge M&A and transformation?” (EY) - the findings of this report present strategies undertaken by C-suites to reframe corporate initiatives and invest their way out of the crisis
  • “Upskilling for shared prosperity” (PwC & WEF) - this analysis presents recommendations on the steps businesses and policymakers can take to create more inclusive and sustainable economies
  • “A Dynamic Theory of Multiple Borrowing” (Harvard Business School) - this report explores the topic of multiple borrowing: when a borrower obtains overlapping loans from multiple lenders, which has become a common phenomenon in many credit markets
  • “Analyst Note: Access Points for the Masses” (PitchBook) - with value hard to find in the public markets, demand is only growing to make alternative strategies more available to those historically excluded due to wealth and income restrictions
Read more about the research papers and download the pdf’s HERE.
hollandfintech.com  •  Share
Background information and insights from opinion leaders and experts
Opinion leaders, industry experts and researchers. Find out what topics the top voices from fintech are exploring:
  • “What was financial security in 2020 all about?” via ValueWalk - 2020 was marked in the US by financial insecurity caused by the massive rates of unemployment, reduced hours or salaries
  • “How financial crime has adapted to COVID” via ICAEW - in a recent analysis by PwC, the Global Economic Crime Survey found that economic crime has hit a new record in the last 2 years
  • “How To Fight Financial Crime While Avoiding Costly AML Compliance Mistake” via Forbes - according to Dean Nicolls, Vice President Global Marketing at Jumio, many financial businesses are still struggling to meet regulatory obligations, and follow on the path of past mistakes
  • “HSBC – using AI to join the financial crime ‘dots’” via Diginomica - Gary Flood, writer at Diginomica, analyzes the aftermath of HSBC’s deployment of a Global Social Network Analytics (GSNA) platform to better inform financial crime investigation
  • “Next Insurance doubles gross written premium with AI-powered coverage” via Insider - Next Insurance, an online insurance provider for small businesses, announced that it has reached a $200 million gross written premium run rate by the end of 2020
  • “A Crime Epidemic Has Cost Americans Billions. Why Aren’t More People Paying Attention?” via Time - Ankush Khardori, an attorney and former federal prosecutor, highlights cyber threats that the state of California has been confronting with at the end of last year
  • “Google’s next big Chrome update will rewrite the rules of the web” via WIRED - Matt Burgess, deputy digital editor at WIRED, is analyzing the effectiveness of Google’s most recent announcement about dropping third-party cookies from its offering
Read more about these analyses & opinion pieces HERE.
hollandfintech.com  •  Share
Connect with the fintech ecosystem at some of the upcoming events
Embedded Insurance may provide an answer to some of these challenges. So what’s exactly happening in this fast growing segment? And what are the ingredients required to make it work? Join this event to find out!
Register HERE.
hollandfintech.com  •  Share
Future of Finance & CFO Summit - 16th-17th February
he 2021 Future of Finance and CFO Summit will be going virtual – 100% online! The event will not only ensure you meet like-minded finance professionals, but give you the opportunity to hear first-hand accounts from CFOs and finance leaders.
Register HERE.
www.ssonetwork.com  •  Share
DutchBasecamp Go-to-Market Programme: UK - Deadline Applications - 17th February
By using DutchBasecamp’s tools, experience and unique approach, this programme helps you validate your Go-to-Market strategy, prepare for (online) business meetings with workshops by industry experts and gets you at the table with curated matchmaking.
Sign up HERE.
bit.ly  •  Share
Flash Friday: Staying Ahead of the FinTech News - 19th February
Holland FinTech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest fintech news and developments! Together, the hosts will discuss what is happening in the world of fintech and answering questions from Holland FinTech members.
Register HERE.
hollandfintech.com  •  Share
Technovity 2021 - 5th March
Technoviti for the Fintech and Big Tech Sector will explore what is going to be shaping the NEXT in Financial Services. We will put together all the possible triggers that have redefined the future of financial services business and the technologies that power it.
Register HERE.
hollandfintech.com  •  Share
Finnovity 2021 - 6th March
We invite business and technology players from Banking, Fintech, Technology, Security, innovations, Payments, and related ecosystems to take advantage of this elite gathering of 500 plus BFSI delegates and participate at the Finnovity 2021!
Register HERE.
hollandfintech.com  •  Share
Ready to get involved? Click here to find out more.
Did you enjoy this issue?

Global Fintech News

If you don't want these updates anymore, please unsubscribe here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue
Amsterdam