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Global FinTech News - 1st October 2021

Global FinTech News - 1st October 2021
By Holland FinTech  • Issue #118 • View online
Dear reader,
Global financial market are distressed this week, because Chinese real estate investor and industrial conglomerate Evergrande is defaulting on their part of their USD 300b loan portfolio. Worries are that a collapse would severely hurt the lenders to the firm, but also that it might create a snowball effect in the Chinese economy as well as
On a positive note, the world sees more and more countries open their borders to visitors from abroad. This week countries like Australia, Canada and others have finally opened their borders, some for the first time since pandemic started. Also noteworthy, the world’s longest under-sea power cables was switched on, bringing hydropower from Norway to the UK, potentially lowering the UK’s carbon emissions by 23 million tones between now and 2030.
We are back with the news in fintech, exploring the latest news, investments, reports and opinions on fintech, cybersecurity, cryptos, banking, partnerships, payments and more! In any case be sure to check out the event section at the bottom.
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, exchange, investment, partnerships, crypto and banking:
  • Binance, said that users in Singapore would no longer be allowed buy and trade cryptocurrencies on its main platform, to comply with local regulation
  • Women in UK financial technology have welcomed bank’s new female-focused lab Barclays Bank and funding initiative Anthemis and call for more like it from the sector
  • Switzerland’s financial markets supervisor said, that it had approved the country’s first fund that invests primarily in crypto assets
  • Union Commerce and Industry Minister Piyush Goyal said that India is poised to become one of the largest digital markets in the world.
  • Several former employees of stock-trading platform Robinhood Markets are building a new fintech startup for small businesses
  • The Australian arm of UK fintech Wise has been approved to join the NPP as a participant and shareholder of NPP Australia
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
This week’s prominent fundings are shared by multiple sectors, including fintech, crypto, trading, cybersecurity, payments and blockchain:
  • Sorare (Paris, France), a soccer-focused NFT trading platform, has announced a $680 million (€582.2m) Series B fundraise led by SoftBank
  • Dapper Labs, Inc. (Vancouver, BC), a company behind NBA Top Shot and the Flow blockchain, raised US$250M (€215.1m) in funding
  • Coalition (San Francisco, CA, US), a cybersecurity insurance company, has raised $205 million (€176.5m) in Series E funding
  • Blockdaemon (New York, NYC, US), a blockchain node infrastructure platform, raised $155M (€133.4m) in Series B funding
  • Ascend Money (Bangkok, Thailand), a fintech company, raised US$150m (€129.1m) in funding
  • Flyr Labs (San Francisco, CA, US), a provider of data and AI-driven Revenue Operating System for airlines, travel, and transportation industries, secured $150m (€129.1m) in Series C funding
  • Other funding rounds this week: TrueLayer $130m (€111.9m), Cover Genius $100m (€86m) AUD, Ocrolus $80m (€68.8m), Highnote $54m (€46.5m), Spenmo US$34M (€29.3m)
Read more about the funding news HERE.
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A selection of recent research reports and papers worth reading
Explore the numbers and trends from fintech regarding startups, cyberattacks, banks, digital transformation and cash-back:
  • “The Global Startup Ecosystem Report 2021” (Startup Genome) - This work presents the world’s most comprehensive and widely-read research on startups, with 280 innovation ecosystems and 3 million+ companies analyzed
  • “2021 Sets the Bar for DDoS Cyber Attacks; Latest NETSCOUT Report Finds” (Fintech Times) - This article analyzes the results of NETSCOUT SYSTEMS‘ bi-annual Threat Intelligence Report that have been published recently, which underscores the dramatic impact cyberattacks continue to have on private and public organisations and governments worldwide
  • “Financial Institutions Must Act Now if They Are To Meet Looming Climate Risk Deadlines” (Fintech Times) - This publication explores a barometer, which has been published by Acin that charts the preparedness of the world’s leading banks and asset managers in meeting the upcoming challenges associated with climate change-related risks
  • “Prepare to Choose: 4 factors banks must assess before committing to a SaaS Provider” (Finextra) - This writing highlights on the fact that most banks’ digital transformation journeys are well underway, and the need to now deliver on their strategy milestones means that time is of the essence
  • “US Cash-Back Credit Card Emerging Features Benchmark 2021” (Emarketer) - This report explores how 10 of the leading no-fee cash-back credit cards stack up on offering card prospects’ most valued features
Read more about these research papers HERE.
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Background information and insights from opinion leaders and experts
Learn more from fintech experts about security, financial institutions, financial regulations, Open Banking, BNPL and more:
  • “Security of Russia’s biometric data system questioned” via (Intellinews) - Experts at Intellinews have questioned the security of Russia’s united biometric system (UBS) that aims to become a major identification tool for banks and other financial institutions
  • “Leveraging best practice to maximise the benefits of cloud technology” via (Fintech Futures) - David Chayer, Managing Director, Cloud, IT Product Management and Infrastructure Delivery, DTCC, elaborates on the fact that large financial institutions have leveraged private data centres to host and operate core platforms and systems for decades
  • “Dear Luc: How do I get a slice of the BNPL pie?” via (Fintech Futures) - Alex Hamilton, aDeputy Editor at Fintech Futures, answers the questions the industry’s fintech founders are too afraid to ask, and solves the problems they don’t want their VCs to know about
  • “Why don’t customers trust digital claims?” via (Digital Insurance) - Nathan Golia, an editor-in-chief of Digital Insurance, analyzes the fact that insurance companies have invested heavily in digital transformation of the claims process, adding a number of self-service features for first notice of loss, the adjustment process, and payment
  • “Open banking’s unstoppable momentum” via (Fintech Futures) - Dima Kats, CEO at Clear Junction, analyzes regulations applied for Open Banking by UK’s Competition and Markets Authority
Read more about these analyses HERE.
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Holland Fintech team had a chance to take part in one of the biggest fintech focused events this year - Money20/20. It was an insightful 3 days journey, where we were able to visit lots of informative presentations, make some new connections and film short interviews with some of the leading companies in this field like: Bankish, Sentinels, Fortech, Finnick Legal, Nium and Form3.
There are already some interviews available. If you want to know more about the companies participating in Money20/20, their plans and experience of the event - check our social medias or Money20/20 member dedicated page HERE.
Connect with the fintech ecosystem at some of the upcoming events
Holland FinTech Online Meetup
Our Holland FinTech Online Meetups allow the international Fintech ecosystem to gather together and allows for the companies of our Network to stay at the Forefront of Innovation. If you are looking for exposure, new customers, investors, team members or cool startups, you will surely meet them here!
Topics:
– Updates on the Latest Tech Developments
– Cool Startups and Innovative Projects
– Insights from Subject Matter Experts
– Connecting the Dutch and International Fintech Ecosystem
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Phygital Event - FTSFEST'21
As the curtain opens on a year full of expectations of recovery and renovation, orginizers at FTS are eager to contribute to the discussion bringing on stage the most powerful advocates of a new phase and a new approach, those who’ve been trailblazers and grasp what impact means.
Starting with a focus on sustainability and impact, topics that today must be considered transversely, we’ll explore trends that are already shaking up the industry, such as embedded and decentralized finance spotting, as we always try to do, the opportunities to bring together ecosystems, in a moment where it is needed more than ever.
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WorldPensionSummit 2021| OCT. 12-14, 2021 • THE HAGUE
The P&I WorldPensionSummit has, in 12 years, grown into a leading global event that is truly for and by pension professionals. The goal is to provide a platform for the strategic exchange of relevant pension market developments between asset owners, policy makers, experts and investment professionals. Attendees will learn innovative ideas and strategies, discuss the future of pensions with global thought leaders and get fresh perspectives on how to tackle pension challenges and achieve sustainable pension provision.
Discount code for 20% discount: PARTNERWPS2021
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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.
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Payments Leaders' Summit, 5-6 October 2021 | Hilton London Tower Bridge
The Payments Leaders’ Summit is a private, invite-only event for selected senior payment leaders, decision-makers and budget-holders.
This is an unmissable opportunity for leaders that oversee payments and fraud strategy, PSP partnerships, payments schemes and methods, developing payments architecture and infrastructure.
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Regina Lau on LinkedIn: Diversity Day with EWPN
Are diversity days still necessary, and is it a double-edged sword? Should we continue to observe diversity days in the twenty-first century?
Join EWPN’s executive board member Esther Groen as she moderates an exciting panel of diversity and inclusion leaders and champions. They will have a debate about the impact of diversity in today’s world. Martha Dali Mghendi Fisher, founder of the EWPN, will deliver the opening remarks.
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Discover Perfect Pitch | Sibos - 13th October 2021
Sibos 2021 sees the second edition of the Discover Perfect Pitch competition, a challenge with a twist giving fintechs from around the globe the opportunity to showcase their products and services to the Sibos community.
Once again, entrants can select from nine categories across three streams – Leadership, Society & Sustainability and Partnership & Collaboration. Fintechs will have to make an upfront decision by selecting which category best aligns to their business, values and principles. The panel will select the best nine entries for the live final, hosted on 13 October 2021, the Wednesday of Sibos week.
www.sibos.com  •  Share
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