View profile

Global FinTech News - 16th July 2021

Global FinTech News - 16th July 2021
By Holland FinTech  • Issue #107 • View online
Dear fintech reader,
This week, the European Union has published a draft of climate change proposals pushing towards its goal of becoming carbon neutral by 2050. The proposals include taxing jet fuel and effectively banning the sale of petrol and diesel powered cars within 20 years. In Netherlands, the numbers of Covid-19 cases are rapidly increasing, due to the early lift of restrictions by the Dutch government, which have partly been reversed already.
We are focused again on the news in fintech, exploring the newest trends from the industry sectors: M&A, AI, payments, digital mortgage, cloud computing, banking,and more!
From the Holland FinTech Team, we wish you a nice weekend!

Highlights from last weeks news related to fintech
Dive into the latest news on M&A, regulations on anti-money laundering, buy now pay later, digital mortgage, and experiment using CBDC, fintech partnerships:
  • The Reserve Bank of India has told Mastercard to stop onboarding all new credit, debit and prepaid card customers in the country for violating data storage rules
  • Apple is working with Goldman Sachs to develop a buy now, pay later service that lets customers pay for their Apple Pay purchases in instalments
  • PayPal is to take on Australia’s home-grown buy now, pay later players with the nationwide launch of a fee-free instalment payments product
  • Digital mortgage lender Better is making its first expansion overseas with the acquisition of Trussle — a Goldman Sachs-backed digital mortgage and insurance broker
  • RVU is strengthening its position in the UK online mortgages sector with the acquisition of Manchester-based start-up Mojo Mortgages
  • Google is in talks to acquire Tokyo-based cashless payment provider pring in a deal that could enable Google to offer financial services of its own
  • The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets
  • The Monetary Authority of Singapore (MAS) and Banque de France (BdF) completed a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC)
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 cryptocurrencies, AI, cloud technology, digital insurance, challenger banks, real estate and more. Take a look at the fintech deals selected from 7th - 14th July:
  • Lunar (Aarhus, Denmark), a mobile banking app, has raised €210m in a Series D funding round
  • Bunq (Amsterdam, Netherlands), a challenger bank, has raised €193M in a funding round led by Pollen Street Capital, at a valuation of €1.6B
  • MobiKwik (Haryana,India), mobile wallet service firm, files for its IPO to raise $255m (€190M)
  • Younited (Paris, France), a fintech company that provides both online lending as well as payments and BaaS, has raised $170 million (€144M) in equity capital
  • Quantexa (London, UK), a financial anti-crime startup, has raised $153m (€130M) in a funding round
  • Casafari (Lisbon, Portugal), a real estate data platform, raised $135m (€114M) in funding
  • Mark43 (New York, NY, USA), a cloud-native public safety software company, raised $101M (€85M) in Series E funding
  • EIS (San Francisco, CA), a core and digital platform provider for insurers, received a growth investment of more than $100m (€84M)
  • Other interesting funding rounds for this week: LoanPro (€84m), Railsbank (€59m), Teamwork (€59m), Juni (€20m), Slice (€18m), Moneyhub (€15m), Willa (€15m), Blockpit (€8.4m)
Read more about this week’s funding news HERE.
hollandfintech.com  •  Share
A selection of recent research reports and papers worth reading
Explore the topics of anti-money laundering, risk management, banking as a service, mobile banking, cybersecurity, and open banking:
  • “Featurespace Model Governance for Anti-Money Laundering” (FS Tech) - This paper explores the four main pillars of Model Governance that are used, and how financial institutions benefit from each
  • “Five Business Benefits for Analysing and Combating Fraud” (Finextra) - This paper lists five business benefits to understanding customer risk profiles
  • “Survey finds majority of financial sector favour hybrid work policy post-pandemic” (Fintech Global) - A survey by Accenture has found almost three-quarters of financial sector workers in the UK would prefer a flexible working policy
  • “Finastra Study: Banking-as-a-Service to Gain Massive Traction in the Next Year” (Fintechnews) - Results show that Banking-as-a-Service (BaaS) and inclusive banking services will have a significant impact on the industry over the next twelve months
  • “Consumer spending on apps hit record $64.9B in first half of 2021, but install growth slowed to 1.7%” (Techcrunch) - Findings indicate that consumer spending in mobile apps hit a record $64.9 billion during the first half of 2021
  • “Report: UK and Nordics lead Open Banking in Europe” (Payments Cards and Mobile) - This research investigates how prepared European countries are to embrace the open banking ecosystem
  • “Report: Fintech’s Growing Popularity a Threat to Profitability of Nigerian Banks” (Bitcoin.com) - A local report explains the threat for fintech services which stems from their growing popularity with “tech-literate” customers
Read more about these research HERE.
hollandfintech.com  •  Share
Background information and insights from opinion leaders and experts
Take a closer look at new financial services offerings, such as the integration of AI in financial services, near-zero-knowledge ecommerce, cloud native storage:
  • “A paradigm shift towards Near-Zero-Knowledge e-commerce” via Innopay.com - Vincent Jansen, Partner at InnoPay, Constantijn Molengraaf, Business Analyst at Innopay, emphasize that Near-Zero-Knowledge (NZK) e-commerce could maximize performances of e-commerce businesses
  • “Cloud Native Storage: Why It Should Matter to Banks and Fintech Companies” via Global banking and finance - Alex Chircop, Founder and CEO at StorageOS, highlights that cloud native environments allow developers to decouple their applications from their infrastructure
  • “Tips to Navigate Top Risk Factors for Banks in 2021” via Bankdirector.com - Craig Sanders, partner with Moss Adams, draws a plan for continuity and disaster recovery after the pandemic
  • “Data Considerations for Successful Deal Integration” via Bankdirector.com - Gill Hundley, Chief Administrative & Risk Officer at KlariVis, underlines that whether your bank is considering buying or selling
  • “Leading by Example: How Insurers Can Manage Cyber Risk Within Their Own Operations” via Insurance Journal - Elizabeth Blosfield, editor at Insurance Journal, dives into the protection of insurers when it comes to cyber risks
  • “Emerging markets and the compliance challenge” via Finextra - Adrien Antoni, Head of Compliance at Thunes, takes a closer look at the reported data for correspondent banks
  • “Fintech and AI: Future-proof technology for finserve” via Fintechmagazine.com - Joana England, writer at Fintech magazine, explores the key driver behind the usage of AI technology in the financial sector
Read more about analysis and opinions HERE.
hollandfintech.com  •  Share
Connect with the fintech ecosystem at some of the upcoming events
Webinar: Secure from the Start: Strategies for Startups to Get Secure, Stay Compliant, and Focus on Growth - 21st July
Any leader of a fast growing startup recognizes the need for “security” and the importance of putting that promise into action. But where do you start? How soon is too soon? And who even has time for it anyways?
Register HERE.
us02web.zoom.us  •  Share
Finnovex Southern Africa - 27th-28th July
Finnovex is a series of Summits that examines the Future of Financial Services on how disruptive innovations are reshaping the way they are structured.
Register HERE.
hollandfintech.com  •  Share
Increasing Conversion Quality All Around the World - 27th July
A webinar with PPRO and Bancontact, moderated by The Paypers. Mélisande Mual of The Paypers moderates a chat between PPRO, the leading global provider of local payments infrastructure, and Bancontact, one of the most popular payment methods in Belgium.
Register HERE.
hollandfintech.com  •  Share
Interpol & Onfido: Train like a border guard - 29th July
In this one-off session, specialists from Interpol and Onfido will offer participants a unique insight into the world of fraud. Taking some of the principles of what it’s like to train as a border guard, speakers will examine how many of the techniques used to catch and prevent fraud can also be applied in the business world.
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