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Global FinTech News - 16th of October

Global FinTech News - 16th of October
By Holland FinTech  • Issue #68 • View online
Hello, fintech enthusiast!
This week saw many transactions and activities happening in fintech! We prepared for you a selection of the latest materials regarding new partnerships, mergers and acquisitions, crypto sector, InsurTech, DeFi, regulations, digital transformation and much more! Go through the four categories of interest - news, funding rounds, research, analysis & opinion - and enjoy the readings!
In case you missed this morning’s Flash Friday edition co-hosted by Christiaan van der Ven, Founder & CEO Budlr & Floris Went, Founder & CEO Plinkr - both from the Social Fintech Alliance - feel free to check out our YouTube channel here. Especially interesting if you are into social fintech solutions.
From the Holland FinTech Team, we wish you happy Friday!

Highlights from last weeks news related to fintech
Our selection of remarkable news from the industry.
  • Bravura Solutions, provider of wealth management applications software, acquired Delta Financial Systems, a software company providing pension administration services for the UK market, for £23 million
  • Chase, an U.S. consumer and commercial banking business of JPMorgan Chase & Co., launched new offerings for children accounts
  • Fiserv, a fintech company, launched an AI-based fraud detection system - Advance Defense - for card payments
  • Ternio, a Georgia-based fintech platform built on top of blockchain technology, has become Visa’s first crypto-focused enablement partner for debit cards
  • PayPal is currently planning on introducing for the UK market a buy now, pay later shopping service
  • The House of Representatives antitrust subcommittee’s report on Big Techs mergers presents numerous threats arising from these partnerships
  • Pennyworth, a new digital bank aimed for young professionals and middle managers, is being launched by two former Barclays executives
  • Stripe, one of the largest payment processors, is acquiring Nigerian online payments processing startup Paystack
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.
  • Molo (London, UK), a fully-digital fintech mortgage lender, raised £266m (€292.6m) in debt and equity funding
  • Razorpay (Bengaluru, India), a platform that enables businesses to accept, process, and disburse payments with its product suite, raised $100m (€85.24m)
  • Wealthsimple (Toronto), a Canadian online investment management service focused on millennials, has raised CAD$114 million (€73.63m)
  • Snapdocs (San Francisco, CA, US), an American real estate technology company, raised $60m (€51.14m)
  • Spendesk (Paris, France), a company focused on spending management solutions, has reached a series B funding of $56.4 million (€48.08m)
  • Deepwatch (Washington,US), a company focused on providing intelligence-driven managed security services, closed a $53m (€45.18m) Series B funding round
  • NYDIG (NY, US), an investment firm providing asset management, custody, and execution services for digital assets, raised $50m (€42.62m)
  • M1 Finance (Chicago, IL, US), an online financial services company, raised $45m (€38.36m)
  • Apiiro (Tel Aviv, Israel), a code risk platform, raised $35 million (€29.83m) in funding
  • BlackSwan Technologies (Tel Aviv, Israel), a SaaS product company, raised $28m (€23.87m)
  • Yotascale­­ (Menlo Park, CA, US), a cloud cost management software provider, secured $13m (€11.08m) in Series B funding
  • InsurTech Cover Genius (Sydney, Australia) raised £8.3m (€9.13m)
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. We felt also some regulatory decisions would also fit well in this category for true readers.
  • The Financial Stability Board (FSB) presents in a late report issues concerning the regulatory, supervisory and oversight implications of global stablecoins
  • A new report from The US Attorney General’s Cyber Digital Task Force presents an overview on latest trends and changes in terms of the crypto sector
  • According to a recent report from McKinsey, although the European start-up ecosystem is on the rise, there are still numerous challenges to be addressed
  • “The mobile finance report: A global benchmark of banking and payment apps” paper explores the H1 2020 overview of fintech apps and follows certain KPIs
  • “The Global Standards Mapping Initiative” released by GBBC contains a series of reports highlighting blockchain industry standards
  • The anti-money laundering sector is gaining momentum, with an estimated worth of $1.99bn by 2025
  • “The 2020 McKinsey Global Payments Report” highlights five major subjects where payments and bank executives can pay extra attention
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.
  • According to Ray Youssef, co-founder and CEO of Paxful, DeFi might potentially have the solution for financial inclusion
  • Robert Douglas, Europe Planning Director at Workday Adaptive Planning, argues that digitalization has been a key movement adopted by financial services
  • According to Christina Luttrell, chief operating officer at IDology, today’s consumer is strongly focused on a digital experience
  • In a recent study by Onfido, the importance of new solutions for data protection is highlighted
  • InvestorPlace describes in a recent analysis the growth of Root Insurance’s IPO, which could fetch a valuation of more than $6 billion
  • According to L.S. Howard, international editor for Insurance Journal and Carrier Management, digital transformation has impacted the insurance sector
  • In a report by the National Security Commission of Artificial Intelligence, the US government is urged to implement new changes to support AI technology
  • According to Suraj Prakash, Head – Information Technology at Capri Global Capital, adopting digital capabilities can ultimately be an asset for businesses
  • Satis Group Co-Founder and General Counsel, Emma Channing, looks at the first half of 2020 in terms of digital asset platforms
  • Root Insurance plans on going public, raising concerns among some industry experts
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
ING labs Brussels 2021
Labs Brussels is a business implementation program aimed to increase ING’s speed of innovation through the collaboration with mature start-up/scale up companies. This program allows participants to put their technologies to the test and co-create with ING in a real banking environment.
Register HERE.
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CES Unveiled Conference - 15th October
The Consumer Technology Association (CTA) is reimagining how to connect customers, thought leaders and media from around the world while prioritizing health and safety. Both CES Unveiled in Paris, scheduled for October 7, and CES Unveiled in Amsterdam, scheduled for October 15-16, combined into a one-day digital only conference with a focus on Europe on October 15.
Register HERE.
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LendIt Fintech Europe - 19th to 20th October
LendIt Fintech is leveraging state-of-the-art technology and best in class production to completely reimagine events for the virtual world. Industry experts from the leading traditional banks, fintech platforms and tech companies discuss innovation in lending, digital banking, data science, embedded finance and more.
Register HERE.
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European Fintech Hackcelerator - Deadline applications: 21st October
By applying to the programme, startups will get the opportunity to present their businesses in front of international investors, experts and corporate representatives during the Singapore Fintech Festival on December 10th and gain prizes totalling up to 270.000 Singapore Dollars. Moreover, for the winner waits a 12-week virtual acceleration programme conducted by the top market experts from Singapore and a free access to APIX Innovation Sandbox.
Apply HERE.
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The Trading Show Europe 2020 - 22nd October
Terrapinn has an incredible history of over 20 years running Europe’s leading hedge fund event, running the first ever High Frequency Trading conference, creating the first Quant Invest in both London and Paris as well as London often hosting the World Exchange Congress.
Register HERE.
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Hong Kong Fintech Week - 2nd to 6th November
Invest Hong Kong (InvestHK) announced that its fifth annual Hong Kong Fintech Week will take place from November 2 to 6 digitally. InvestHK also outlined some of its activities and programmes planned for the months leading up to the region’s only cross-boundary fintech trade show.
Register HERE.
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