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Global FinTech News - 19th Aug 2022

Global FinTech News - 19th Aug 2022
By Holland FinTech  • Issue #164 • View online
Dear reader,
This week the pharmaceutical company GSK is going to produce the world’s first malaria vaccine so that millions more children will be protected against the killer disease.
Meanwhile, extreme heat and drought conditions are battering the United States, Europe and China, compounding problems for workers and businesses at a time when economic growth is already slowing sharply and adding to upward pressure on prices.
You can find information about upcoming events, new investments, research and breakthroughs within the industry. In addition, find more ways to support Ukraine here. Happy reading!
From the Holland FinTech team, we wish you a great weekend.

Connect with the fintech ecosystem at some of the upcoming events.
🔔 Sponsor Announcement 🔔
We are happy to announce that five degrees, a cloud-native core banking provider for banks and lenders that want seamless SaaS loan management technology, is confirmed to be our sponsor for this year’s Amsterdam Fintech Week. Their clients rely on a banking grade SaaS platform that unites their extensive experience working with world-class financial institutions.
As a XFW22 sponsor, you’ll benefit from invite only events such as sponsor drinks, online or self-hosted event slots, conference space marketing, social media promotion and more. For more information please visit our website or contact us directly at[email protected]
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Launch of "Landing In NL" web page - Holland FinTech
In this online session, we will launch the Dutch Fintech Landing Page. This page will help all parties new to the Dutch Fintech ecosystem - and Holland Fintech - to find the way across investors, regulators, and all kinds of support.
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Fintech Insights - Holland FinTech
Are you new to fintech, or new to Holland Fintech, and exploring to join the ecosystem in some way? Join us for this 1,5 hour explanation of what fintech is, what is currently hot, and to discuss how you can participate.
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SME Lending Product Owners Meetup - Holland FinTech
SME Lending Product Owners meetup at the Five Degrees headquarters office. This informal meetup is exclusively for product owners within corporate banking providers. It provides an opportunity to exchange experiences with other industry product owners, connect and discuss current, relevant topics together.
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Highlights from last weeks news related to fintech
Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, banking, crypto, regulations and more:
  • U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent
  • The Reserve Bank of India’s (RBI’s) latest digital lending guidelines has stepped up pressure on new age lending businesses, forcing them to focus on their non-banking financial company (NBFC) units and book building, as the regulator gives importance to regulated entities
  • Ukraine’s government has launched a website allowing people to donate NFTs and buy donated pieces, in a bid to raise funds to further support its war efforts
  • Startups processing personal data in Kenya are among the entities required to register with the Office of the Data Protection Commissioner (ODPC), as the East African country implements a law protecting the right to privacy of persons within its borders
  • OKEO, a digital payment service provider for European businesses and entrepreneurs, has gone live on Mambu’s cloud banking platform
  • The United Nation’s Conference on Trade and Development, UNCTAD, has released three policy briefs on the dangers of cryptocurrency in light of the rising use of digital assets in developing countries
  • The Financial Conduct Authority (FCA) has written an open letter to CEOs of alternative investments companies to set out a strategy for dealing with alternative assets
Read more about this week’s news here.
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The largest funding rounds we found from across the world
New week – new closed funding rounds! This week’s funding highlights cover credit cards, blockchain, SME, and AI! Take a look at some major investments.
  • New York-based investment firm Upper90 has closed its third fund on $180m (EUR 179,17m), as it looks to back FinTech, e-commerce and supply chain finance companies.
  • SAIC Mobility Robotaxi, an arm of state-owned Chinese automaker SAIC that aims to launch a commercial robotaxi service, raised $148 million (EUR 147,32m).
  • Pliops, which develops data processors for cloud and enterprise data centers, has closed a $100 million (EUR 99,54m) Series D funding round, Calcalist has learned.
  • US-based income and employment verification startup fintech Truework has raised an additional USD 50 million (EUR 49,77m) in a Series C funding round, reaching a total of USD 95 million so far
  • Pomelo, a San Francisco, CA-based fintech startup that combines credit and international money transfer, raised $20m (EUR 19,91m) in venture capital and $50m (EUR49,77m) in warehouse facility for a total of $70m (EUR 69,68m) in seed financing.
  • Arc, San Francisco-based startup finance platform, today announced that it has closed a $20 million (EUR 19,91m) Series A financing round led by Left Lane Capital.
  • Manchester-based fintech BankiFi has secured £4 million (EUR 3,98m) in funding to take its embedded bank-to-SME platform into new markets, with a focus on North America following the recent establishment of a US sales office.
Read more about funding here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on decentralized finance, POS, and payments. Enjoy researching!
  • “Visa: More Than One Third of APAC Consumers Likely to Use DeFi in Next 6 Months” via (FinTech Singapore) - In Asia-Pacific (APAC), though decentralized finance (DeFi) remains a nascent sector, adoption of DeFi services among consumers is growing rapidly, fueled by the region’ burgeoning blockchain and cryptocurrency startup scene.
  • “Metaverse and decentralised identity flagged as emerging tech to watch – Gartner” via (Finextra) - Research by Gartner identified 25 “must-know” emerging technologies across three key areas which it predicts will greatly impact business and society over the next two to ten years.
  • “Apple to drive huge surge in soft POS adoption” via (Fintech Global) - The number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027, rising from six million in 2022.
  • “State of play: BNPL” via (Fintech Futures) - BNPL has become one of the most divisive credit products of the modern age.
Read more about research here.
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Background information and insights from opinion leaders and experts
And we’re ending the week with new analysis and opinion on fintech regulations, crypto, regtech and more. Dive into the latest fintech insights and have a great weekend!
  • “Duco: Why Good Data Management Is Key to Keeping Crypto Regulations at Bay” via (The FinTech Times) - Cryptocurrencies have entered the business landscape with a bang and have brought with them calls for increased regulation.
  • “Cryptocurrency exchanges: should we prioritise anonymity or security?” via (Fintech & Finance News) - Following the huge crypto price crash, the liquidation of crypto lending company Celsius, tens of billions lost through the TERRA LUNA network
  • “5 elements that make an effective compliance program” via (FinTech Global) - with regulations continuously changing, there are always new challenges to overcome.
  • “Why Fintechs should welcome a pragmatic approach to privacy” (FinTech Magazine) - You may have missed the Information Commissioner’s big new announcement last week. But while the launch of the ICO’s new vision fell below the radar of most Fleet Street hacks, it did contain plenty of food for thought for the FinTech sector.
  • “How to choose the best crypto-friendly bank for business” via (FinTech Magazine) - The global market appetite for cryptocurrencies continues to grow around the world.How to choose the best crypto-friendly bank for business (FinTech Magazine)
  • “Composing the future of banks” via (Fintech Futures) - BIAN is a way of defining the composable modules. One thing to add though is that BIAN represents the business model of banking first and then how it can be supported by technology.
Read more about analysis and opinion here.
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