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Global FinTech News - 13th of November

Global FinTech News - 13th of November
By Holland FinTech  • Issue #72 • View online
Hello, dear fintech reader!
This week, we’ve been intrigued by the news of Biden’s (disputed) presidential election in the US and the announcement of a 90% successful COVID-19 vaccine test by Pfizer and BioNTech. We have further explored the news to bring you the weekly dose of fintech! Stay up to date on the latest developments and trends, by diving into the four categories of materials we prepared for you - analysis & opinion, research, funding rounds and news.
Every Friday morning, our founder Don Ginsel always discusses the week with a special guest, in Flash Friday. In case you missed this morning edition, co-hosted by Walter Heck, the CTO – NL at HeleCloud, or our November Monthly Meetup Edition, check out the recordings on our YouTube channel here!
From the Holland FinTech Team, have a nice weekend!

Highlights from last weeks news related to fintech
Our selection of remarkable news from the industry.
  • Switzerland has proposed a new initiative: The Green Fintech Network
  • After Visa’s plans earlier this year to acquire Plaid, a technology platform providing financial services, the US Justice Department filed a lawsuit to block the purchase
  • WhatsApp payments service has received the final approval to start operating on the Indian market
  • Alibaba announced a quarterly cloud revenue of $2.194 billion, surpassing IBM’s cloud revenue
  • Thinking Capital, a Canadian online small business lender, acquired Ario, builder of a leading-edge finance-as-a-service platform
  • United Fintech, a company aiming to acquire multiple capital market-focused digital technologies, was launched earlier this week
  • In the Brexit aftermath, UK fintechs are preparing contingency plans to mitigate the increased chance of exiting the EU without a trade deal
  • Experian, an American consumer credit reporting company, is now allowing its customers to improve their credit score with open banking, by using their council tax, Netflix and Spotify subscription payments
  • For Q3’20, China further reports losses and no venture capital deals in terms of fintech
Read more details about this news and sources HERE.
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The largest funding rounds we found from across the world
We have again looked across all oceans to find all investments that are relevant for the financial industry and listed the largest below. This is just the tip of the iceberg.
  • Better.com (NY, US), a digital mortgage lender, announced that it raised $200 million (€170.20m) in a series D round
  • LinkAja (Jakarta, Indonesia), a developer of a mobile payment platform intended to facilitate smoother financial transactions, closed $100 million (€85.10m) funding
  • Aidexa (Italy), a challenger bank for SMEs, secured €45 million in funding through a seed round
  • Funding Circle, a P2P lending marketplace that allows the public to lend money directly to small and medium-sized businesses, has acquired £30 million (€33.72m) in capital from British Business Investments
  • Venminder (Elizabethtown, KY, US), a SaaS provider, raised $33m (€28.08m)
  • Vivid Money (Berlin, Germany), a digital banking service, has raised a $17.6 million (€14.98m) Series A funding round
  • Snoop (Norwich, Norfolk, UK), a financial management app, has closed its first crowdfunding effort after raising over £10m (€11.23m)
  • Coherent (Hong Kong, China), an InsurTech company, announced it has raised $14 million (€11.01m) in new funding in Series A
  • Kuda (Oworonshoki, Nigeria), a digital bank, raised $10 million (€8.51m) - the biggest seed round ever to be raised in Africa
  • Origin (London, UK), a bond issuance platform, has closed its $7million (€5.96m) Series A round led by Clearstream and the Luxembourg Stock Exchange
  • Compliance.ai (San Francisco, CA, US), a RegTech company, raised $3m (€2.55m) in Series A financing
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Please check out these research reports and white papers we discovered this week.
  • The Open Banking and PSD2 API Tracker aims to bring transparency to open banking by tracking banks through their APIs and developer docs
  • A recent report analyzes the opportunities provided by the new launch of the Impact and Innovation database
  • McKinsey investigates the rapid acceleration of a digital, tech-driven economy in Central and Eastern Europe
  • In a report conducted by Torstone and Firebrand Research, an overview of disruptive elements in the BankTech sector is provided
  • In a late study launched by the European Commission on greener cloud services and data centres, a summary of the EU Member States energy consumption levels is highlighted
  • CB Insights and Blockdata emphasize a growing trend in finance, focused on adoption and implementation of distributed ledger technology (DLT)
  • The FinTech industry in the Nordics has seen a spike between 2016 and 2019 in terms of investments, due to increased digital adoption
  • In a report by OECD, “Antitrust and the Trust Machine”, a further explorative look is given to blockchain technology
  • The “Pension Markets in Focus 2020” report by OECD presents a rising trend for the pension insurance field, pension funds and retirement statements, with a new record since 2019
Read more about the research sources and download pdf’s HERE.
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Background information and insights from opinion leaders and experts
We are keeping track of what opinion leaders across the world have to say about everything that is happening in and around financial services and technology. Below, you can find the ones that stood out this week.
  • FATF President, Dr Marcus Pleyer, argues that stopping money laundering activities will benefit society
  • According to Dr. John Bates, CEO at Eggplant, Covid-19 further impacted the development of innovative firms and M&A practices
  • In a late interview by the Fintech Futures, Conrad Ford, CPO at Allica, an UK challenger bank focused on SMEs solutions, explains why SMEs haven’t achieved yet their full potential
  • Scarlett Sieber, a fintech contributor for Forbes, emphasizes the rise of fintech adoptions during Covid-19, with a focus on the P2P (Peer-to-Peer) services
  • In a recent interview, Gill Bacon, business development director at Eurobase, explains how integrating trading, treasury and sales operations are necessary to understand e-trading and the related regulatory framework
  • Alix Melchy, VP of AI at Jumio, gives an overview of the advantages and disadvantages of AI technology implementation for financial services
  • Keith Stonell, Managing Director EMEA Guidewire, emphasized the obstacles and challenges faced by the insurance sector amid Covid-19
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
Future of Fintech by CB Insights - 16th-18th November
With 5 content streams, 60+ fireside chats, 50+ presentations, and exclusive CB Insights research, Future of Fintech will illuminate the companies, technologies, and trends shaping banking, payments, lending, wealth management and insurance.
Register HERE.
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European Capital Markets Technology & Innovation Virtual Series - 16th-20th November
The AFME European Capital Markets Technology and Innovation Conference is the leading event for the European capital markets industry to debate strategic technology and operations change.
Register HERE.
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Hong Kong Blockchain Week 2020 - 17th-19th November
Hong Kong Blockchain Week 2020 17-19 Nov / Block O2O Global Virtual Summit 18 Nov. The conference is set to be an ideal platform to look back at what 2020 has brought to industry development, and to carry out prolific discussions about the range of applications blockchain technology can offer across different industries.
Register HERE.
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The Complete Payments Ecosystem Represented - 18th-19th November
For the first time, the Payments International conference will be a fully digital event, including live-streamed presentations, Q&As, practical panel discussions, 1:1 networking, virtual networking drinks and post-event downloadable resources.
Register HERE.
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AIBC Europe Summit - 24th-25th November
The AIBC Summit has secured its place on the global tech calendar as the premier platform for companies to exhibit, network and engage in debate. Since 2018, more than 20,000 delegates including exhibitors, investors, suppliers, and thought leaders have come together, forged new partnerships, and sealed lucrative business deals.
Register HERE.
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EBAday 2020 - 24th-26th November
EBAday offers the perfect level playing field for all our sponsors and exhibitors. Virtually network with the world’s leading banks, ACHs, technology vendors and consultancies to see the latest industry offerings, solutions and corporate visions.
Register HERE.
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Open Banking Expo Digifest - 24th-26th November
Join us for content and speakers you’ve never seen or heard before, innovators, disruptors and visionaries that you have, but with their latest foresight and knowledge, unique content delivery to keep you awake at your desk and so much more!
Register HERE.
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Ready to get involved? Click here to find out more.
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