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Global FinTech News - 20 May 2022

Global FinTech News - 20 May 2022
By Holland FinTech  • Issue #151 • View online
Dear reader,
This week there’s a monkeypox outbreak in the United Kingdom, Portugal, Spain and other European countries. The outbreak is small — so far 68 suspected cases, including eight in England and 20 in Portugal. Cases in Canada and a case in the U.S. have also been reported. But health officials have little clue where people caught the monkeypox virus. And there’s concern the virus may be spreading through the community — undetected — and possibly through a new route of transmission.
Further, in fintech, you can ​discover the latest developments and news, and stay current on global fintech perspectives. 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.
📣XFW 2022 announcement 📣 We are disclosing the content focus of the summit, don’t miss out on the latest Fintech trends!
This year we’ve selected more than 20 topics throughout the 2-day Summit of Amsterdam Fintech Week to better connect, innovate and gain knowledge about current fintech trends. Some subjects can already be found on XFW22 LinkedIn Page. Check out our website to find out more about this upcoming event!
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Open Banking World Congress - 24 May
500 leaders will converge in Marbella this May, they will be privy to commercial and strategic insights, from both on-stage and numerous off-stage discussions. Join us and you will be in a prime position to benefit from all the opportunities this will present.
hollandfintech.com  •  Share
Finnovex Europe May 24-25, 2022 |
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 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.
eu.finnovex.com  •  Share
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, lending, banking, crypto, NFT and more.
  • Tiger Global-backed fintech unicorn Slice (New York, USA) has launched Unified Payments Interface (UPI) on its platform as it looks to tap into the trillion-dollar payments market in India, which acts as a key customer acquisition funnel
  • London-based asset manager Fasanara Capital (London, UK) has launched a $350 million investment fund to back fintech and cryptocurrency startups that can deliver new use cases for the emerging Web3 economy
  • The European Commission welcomes the political agreement reached between the European Parliament and EU Member States on the Directive on measures for a high common level of cybersecurity across the Union (NIS 2 Directive) proposed by the Commission in December 2020
  • Square (San Francisco, USA) has acquired GoParrot (New York, USA), an all-in-one digital ordering and marketing platform for restaurants
  • Analysts at Fitch Ratings (New York, USA) have said, that cyber insurance has become the fastest growing segment for US property & casualty (P&C) insurers as evolving threats have “boosted” the demand for coverage, with insurers actively raising prices in response to rising claims
  • London financial services firm Ebury (London, UK) signed a deal to acquire Brazilian FinTech Bexs (Sao Paulo, Brazil) in a move to broaden Ebury’s offerings of global money transfer solutions for small- to medium-enterprises (SMEs)
Read more about this week’s news here.
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The largest funding rounds we found from across the world
Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, and more.
  • Jakarta-based Xendit (Polim, Philippines), a payments infrastructure company operating in Indonesia and the Philippines, has raised a $300 million Series D led by New York-based growth equity investors Coatue and Insight Partners
  • Thought Machine (London, UK), a core banking innovator landed $160 million in a Series D funding round which values the company at $2.7 billion
  • Modulr (London, UK), an embedded payments platform for digital businesses, today announced that it has raised $108m (£83m) in series C funding led by General Atlantic, a leading global growth equity firm
  • MarketFinance (London, UK), a Fintech credit and payments company has raised debt financing from Deutsche Bank to part-fund up to £100m of lending to UK SMEs
  • FirstClose (Austin, TX), a fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, raised $35M in Equity funding
  • in3 (Eindhoven, Netherlands), a leading Dutch Buy-Now-Pay-Later (BNPL) fintech company, has received a €10 million Series A investment in growth capital from Finch Capital
Read more about funding here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.
  • “Survey: more banks are open to fintech partnerships” via (The PayPers) -Digital transformation technology provider WSO2 has commissioned a global survey of 300 C-suite banking industry executives.
  • “Vietnam fintech market to reach US$ 18 billion in 2024” via (Techwire Asia) - The fintech industry in Southeast Asia continues to experience tremendous growth compared to other parts of the world.
  • “Opportunities Galore For Fintech Development In Islamic Finance” via (International Banker) - With our planet being home to almost two billion Muslims and Islam being one of the world’s fastest-growing religions, it should come as no surprise that Islamic finance has become a powerhouse sector in recent years.
  • “Travel Fintech Momentum Builds As Industry Looks To Boost Revenue” via (Phocuswire) - Travel companies are looking to invest in fintech products and services to boost revenue streams and improve the customer experience.
  • “Behavox Research on Continual Learning Featured in International Conference on Acoustics, Speech and Signal Processing (ICASSP)” via (Fintech Futures) - Behavox, which provides a suite of security products that help compliance, HR, and security teams protect their company and colleagues from bad actors, announced that its academic research paper on artificial intelligence has been accepted by the International Conference on Acoustics, Speech, and Signal Processing.
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 details on crypto, money transfer, fintech funding, payment process, debt crisis and more.
  • “Terra Luna stablecoin collapse explained: Is this the 2008 financial crash moment of cryptocurrency?” via (Euronews) - Stablecoins are sending shockwaves through the cryptocurrency markets, wiping billions off their value, causing liquid cryptos such as Bitcoin to crash and people to lose their savings.
  • “Fintech For All” via (Forbes) - You could imagine that tech should and could provide solutions for people with disabilities. Well, of course, that can only happen if people with disabilities are part of designing the process from the outset.
  • “Building financial empowerment in Pakistan through fintech” via (Consultancy Asia) - In less than a decade, financial technology has permanently transformed the financial services sector. Challenging the monopoly once held by large banks, fintech startups now have the potential to become established brands.
  • “Making every company a fintech company – Interview with Tern” (The PayPers) - The PayPers caught up with CEO Brion Bonkowski to learn more about Tern, the benefits of Banking-as-a-Service, and what the future of this industry will look like.
  • “BNPL in 2022: 4 fintech investors discuss regulation, trends and how to stand out” via (Techcrunch) - This financing model has primarily been available to customers shopping online, but customers outside the U.S. have already dipped their toes into similar alternatives at brick-and-mortar stores.
Read more about analysis and opinion here.
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