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Global FinTech News - 15th October 2021

Global FinTech News - 15th October 2021
By Holland FinTech  • Issue #120 • View online
Dear reader,
Queen Elizabeth II is speaking up on Climate change, even being “irritated” by the lack of progress, ahead of the COP26 climate change summit in Glasgow.
And while some countries have dropped Covid-19 measures completely, Russia recorded the highest daily numbers of new infections and deaths since the start of the pandemic, putting large strain on the nation’s health-care system.
We are back with the news in fintech, exploring the latest news, investments, reports and opinions on fintech, cybersecurity, crypto, banking, partnerships, payments and more! In any case be sure to check out the event section at the bottom.
Do you want to know more about what goes on behind the news: check our latest Flash Friday recording here, with Josje Violet from Innopay and our CEO Don Ginsel.
From the Holland FinTech team, we wish you a sunny weekend!

Highlights from last weeks news related to fintech
Explore the latest fintech news for this week and dive into topics regarding payment, regulatory, fintech and banking and more:
  • China will continue to tighten regulation of large financial technology (fintech) companies to protect consumer privacy and data security
  • Indian fintech firm Pine Labs is considering an initial public offering in as little as a year, as the company made a foray into the online payments space that it sees as a multi-billion dollar opportunity
  • The Central Bank of the UAE (CBUAE) and Abu Dhabi Global Market (ADGM) have signed a memorandum of understanding (MoU) to collaborate on the development and growth of the UAE’s FinTech ecosystem through joint initiatives and activities
  • Standard Chartered Plc announced a 10-year fintech partnership with Singapore-based Atome Financial on Wednesday to help it grab a piece of the booming buy now, pay later market in Asia that has thrived during the pandemic
  • Fintech startup Point and finance company Redwood Trust, Inc. have teamed up to deliver what they claim is a historic transaction backed only by residential Home Equity Investment (HEI) agreements.
  • Prince Harry and Meghan, the Duchess of Sussex, have another initiative under their belts. The pair have signed up to be investors and “impact partners” with the sustainable investing fintech firm Ethic
Read more about this week’s news HERE.
hollandfintech.com  •  Share
The largest funding rounds we found from across the world
This week’s prominent fundings are shared by multiple sectors, including insurtech, legaltech, payments, banking, credit cards, embedded finance, SaaS and more:
  • Tekion (Pleasanton, CA, US), a provider of a cloud-native automotive SaaS platform, raised $250m (€215.4m) in Series D
  • Tiger Global is in advanced stages of talks to lead a round of over $100 million (€86.16m) in the Slice (Bangalore, India) based startup
  • Sure (Los Angeles, CA, US), a global insurance technology company, closed $100M (€86.16m) in Series C funding
  • Getsafe (Heidelberg, Germany), a neo-insurer has extended its Series B raise to $93 million (€80m)
  • Alviere (New York, NYC, US), an embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, raised $70m (€60.3m) in funding
  • Modern Treasury (San Francisco, CA, US), a payments operations software provider, raised $85m (€73.2m) in Series C funding
  • Other interesting funding rounds this week: Adaptive Shield $30M (€25.8m), Persuit $20M (€17.2m), BridgeFund €20M, Mono $15 million (€12.9m)
Read more about this week’s funding HERE.
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A selection of recent research reports and papers worth reading
Explore the numbers and trends from fintech regarding crypto, financial services, SME, digital banking, banking and more:
  • “UK Brands Target European Embedded Financial Services (Fintech Times)” - This publication elaborates on the fact that UK brands will claim the lion’s share of the £619 billion European embedded financial services market in the next five years
  • “SME Leaders To Spend Big on Pandemic Recovery (Fintech Times)” - This work highlights the fact that SME leaders plan to invest £85,000 on average in new digital technologies and systems over the next 12 months, indicating that the Covid-19 pandemic has sparked a longer-term shift to digital among UK businesses, according to new research by Nucleus Commercial Finance
  • “North America digital banking market to to hit value of $800 billion (CardPaymentsandMobile)” - This report elaborates on the fact that according to a recent study, the North America digital banking market size is poised to expand at substantial CAGR during the forecast period
  • “Poor Banking Loyalty Could Stem From Only One in Five Customers Feeling Their Bank Values Them (Fintech Times)” - This article explores a new research from Ello, according to which, almost a quarter of consumers admit they’re not loyal to their bank/financial services provider, while just one in five feel their bank values them as a customer
  • “Delays in Financial Innovation Due to Pandemic; Ayming Barometer Finds (Fintech Times)” - This publications explores a new research by Ayming Group, according to which, as the pandemic prevented 31% of businesses from innovating, businesses must take care to keep up with the changing pace of the market
  • “Coindesk Quarterly Review (Coindesk)” - This research presents Coindesk’s latest Quarterly Review, which analyzes the rise of alternative layer 1 blockchains among other key crypto market trends observed in Q3
Read more about this week’s research HERE.
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Background information and insights from opinion leaders and experts
Learn more from fintech experts about data, cybersecurity, social media and fintech, botnet, financial sanctions and more:
  • “Digital transformation in asset management – obstacles for fund administrators” via (Fintech Futures) - Maureen Fitzpatrick, VP of business development, DataArt, highlights on the fact that the asset management industry is making a record number of investments into digital transformation – not just money, but time, energy and talent
  • “Finding out about finfluencers” via (Fintech Futures) - Dave Wallace, writer at Fintehc Futures, explores the importance of social media influencers in advertising fintech company’s reputation
  • “Lots and Lots of Bots: Looking at Botnet Activity in 2021” via (Security Week) - Derek Manky, expert at Security Week, points out a thought that a botnet today can be used as a foundation for bad actors to carry out other attacks later
  • “UK sanctions enforcement: fintech in the spotlight” via (Fintech Futures) - Jason Hungerford, Partner, Paul Whitfield-Jones, Senior Associate and James Ford, Senior Associate at Mayer Brown, discuss the fact that HM Treasury’s Office of Financial Sanctions Implementation (OFSI) is responsible for administering the UK’s financial sanctions and has the power to impose civil monetary penalties for violations
  • “HKMA’s Digital Currency Whitepaper Discusses Ground Work for e-HKD” via (Fintech Times) - Francis Bignell, analyst at Fintech Times, analyses a technical whitepaper, that the Hong Kong Monetary Authority (HKMA) has released on retail central bank digital currency (CBDC), titled “e-HKD: A technical perspective”
  • “If I had a penny…” via (Fintech Futures) - Leda Glyptis, analyst at Fintech Futures, presents a discussion analysis titled “If I had a penny..”, discussing money transactions
Read more about this week’s analysis and opinions HERE.
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Connect with the fintech ecosystem at some of the upcoming events
About this event LHoFT, Holland FinTech, and FinTech Belgium have joined forces to share essential insights on ESG developments and the relevance for fintech in the Benelux. Register today!
During this session, we’ll share insights and address the following questions:
-What is driving financial service companies to do good (and no harm)?
-How do they measure effects and influence the outcome of their involvement?
-How can they live up to the changing demands of society?
-How does technology support this movement?
-And how can we build a responsible environment where everyone belongs and people feel welcome, valued, and respected?
Register HERE.
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October 26 - 27, 2021 | Virtual Summit - Finnovex West Africa leading summit on Financial Services Innovation and excellence 2021
Finnovex aims to bring together top professionals and C-level executives from the financial and financial services industry to examine how technology is changing the delivery of banking and financial services. Finnovex West Africa will discuss the roles of banking and non-banking institutions, financial organizations, investment firms, fintech companies, and other stakeholders in developing incentives to the paradigm shift in this sector. West Africa leading summit on Financial Services Innovation and excellence.
Register HERE.
wa.finnovex.com  •  Share
Events | Open Banking Expo
On 4 November 2021, the UK’s Open Banking and Open Finance community will reunite, and what a show it will be! Alongside four stages of must-see content, we have countless opportunities to get back networking with colleagues, industry friends and build new relationships. As we anticipate change in Open Banking governance, never has it been more important to get back together. We can’t wait to welcome you!
Register HERE.
www.openbankingexpo.com  •  Share
Ready to get involved? Click here to find out more.
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