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Global FinTech News - 20th of November

Global FinTech News - 20th of November
By Holland FinTech  • Issue #73 • View online
Hello, curious reader!
This week, while the political landscape further experienced ups and downs, with the Peru Congress selecting its third new president in a week, and Jeff Bezos taking a stand for the environment, announcing the first grants from a planned $10 billion climate change fund, we also dove into the fintech world to bring you the latest insights! Stay up to date with the news and trends. We hope you enjoy our selection of analysis & opinions, research papers, funding rounds and news articles.
Every Friday morning, in Flash Friday, our founder Don Ginsel discusses the week with a special guest. In case you missed this morning’s edition, co-hosted by Rajul Mittal, Head of Sustainable Finance, Synechron NL, check out the recording on our YouTube channel here!
From the Holland FinTech Team, happy Friday!

Highlights from last weeks news related to fintech
Our selection of remarkable news from the industry.
  • Banco Santander SA announced the intention to buy specialized technology assets of Wirecard
  • Nutmeg, an online discretionary investment management company, has formed a partnership with JP Morgan Asset Management in order to launch Smart Alpha portfolios
  • Daylight, a digital banking platform aimed at US clients that identify as LGBT+, has announced a partnership with Visa and Marqeta
  • Google announced a redesigned version for the Google Pay App, which helps them move forward into the fintech market
  • Finndon, a UK neobank, has landed its e-money licence from the Financial Conduct Authority (FCA)
  • Nasdaq announced earlier this week its new plans to buy Verafin, a company focused on providing anti-financial crime software
  • BBVA, plans to sell its US business to PNC Financial Services Group, one of the biggest bank deals in 2020
  • Nexi Italian Bank is buying Nets, a Nordic central payments provider, to create a paytech leader in Europe
  • Ascent announced partnership with Munich Re Group to provide clients with new insurance solutions
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. Remember, this is just the tip of the iceberg.
  • SentinelOne (Mountain View, CA, US), a cybersecurity platform company, raised $267m (€224.96m) in Series F funding
  • Gojek (Jakarta, Indonesia), an on-demand, multi-service tech platform providing access to a wide range of services, has raised $150 million (€126.38m)
  • Menlo Security (Mountain View, CA, US), a cloud security company, raised $100m (€84.25m) in Series E funding
  • SME Finance (Vilnius, Lithuania), a fintech company, received €80M from the European Investment Bank (EIB) to support small and medium-sized enterprises
  • Paddle (London, UK), a B2B Software-as-a-Service (SaaS) provider, raised $68m (€57.29m) in Series C funding
  • Railsbank (London, UK), an open banking startup, has secured a $37 million (€31.17m) investment in a round
  • Turtlemint (Mumbai, India), an insurance policy startup, has raised $30 million (€25.28m) in a new financing round
  • True Balance (South Korea), a financial services app provider, has raised $28 million (€23.59m) in a new financing round
  • Razor (Berlin, Germany), a consumer holding company, raised $25m (€21.06m) in combined equity and debt funding
  • Modulr (London, UK),a payments-as-a-service (PaaS) platform, has received a £9 million (€10.08m) investment from Paypal Ventures
  • Other interesting funding rounds include: Northstar (€9.02m), Happay (€8.43m), Amicus.io (€7.33m), Griffin (€7.29m), Finiata (€7m), Bdeo (€5m), Spark Change (€3.79m), Glint Pay (€2.11m), Turaco (€1.69m)
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.
  • A report conducted by Efma, Infosys Finacle and The Financial Brand gives an overview on how banks are adapting to the changes imposed by Covid-19
  • A new study by S&P Global Ratings highlights the challenges the banking industry is facing, due to the economic recovery
  • A recent study by Finextra Research in association with Mambu and Amazon Web Services (AWS) reports that cloud migration system is an essential step for banks or payment providers
  • According to CB Insights, the US is seeing a rapid development of fintechs across sectors such as payments, investing, and insurance
  • A new survey by The Fintech Power50 shows how the payment processors, digital banks, and mobile payment platforms have coped with the first wave of the pandemic
  • According to Fintech Global, the RegTech sector is experiencing its first decline in terms of investments since 2015
  • The International Monetary Fund (IMF) highlights the growing trend of digital payment schemes, which are expanding within EU countries, although cross-border and pan-euro area instruments are not yet popularized
  • The OECD Recommendation on Financial Literacy provides a comprehensive guide of steps and advice on financial literacy to assist governments, other public authorities, and relevant stakeholders
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.
  • A recent analysis piece by Marc Laliberte, a senior security analyst at WatchGuard, discusses the issue of building backdoors in encryption
  • According to a late review by Isabel Woodford, fintech journalist at Sifted.eu, European investments for fintech in Q4’20 are off to a slow start
  • Rory Stirling, partner at Connect Ventures, explores the rapid demise of neobanks, focusing on companies such as Monzo, Revolutt and N26
  • Mark Binns, CEO of BIGG Digital Assets, highlights why with the rising trend of banks and financial institutions offering users central bank digital currencies comes with numerous implications
  • Jarod Greene, vice president, product marketing – Apptio, and general manager – TBM Council, describes the shift in business priorities in times of pandemic, with more focus on technology and innovations
  • According to Adena Friedman, CEO at Nasdaq, Covid-19 presents further opportunities for SaaS adoptions within businesses
  • TechCrunch highlights the growing trend of subscription models for the American fintech market
  • With the tumultuous political disputes in the US, a new cohort of fintechs has emerged, with the aims of accelerating progress and delivering change for Black and Latin Americans
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
World Summit AI - September-November
The world’s leading and largest AI summit gathering the global AI ecosystem of Enterprise, BigTech, Startups, Investors and Science, the brightest brains in AI as speakers every year in Amsterdam to tackle head-on the most burning AI issues and set the global AI agenda.
Register HERE.
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KNOW Identity - 24th November
KNOW Identity Digital Events are the leading industry forum focused on digital identity, trust, and the data economy. Each week, we mobilize an all-new lineup of experts at the forefront of identity innovation to discuss the latest trends, emerging technologies, and use cases that are shaping the industry’s future.
Register HERE.
know.oneworldidentity.com  •  Share
AIBC Europe Summit - 24th-25th November
The AIBC Summit has secured its place on the global tech calendar as the premier platform for companies to exhibit, network and engage in debate. Since 2018, more than 20,000 delegates including exhibitors, investors, suppliers, and thought leaders have come together, forged new partnerships, and sealed lucrative business deals.
Register HERE.
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EBAday 2020 - 24th-26th November
EBAday offers the perfect level playing field for all our sponsors and exhibitors. Virtually network with the world’s leading banks, ACHs, technology vendors and consultancies to see the latest industry offerings, solutions and corporate visions.
Register HERE.
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Open Banking Expo Digifest - 24th-26th November
Join us for content and speakers you’ve never seen or heard before, innovators, disruptors and visionaries that you have, but with their latest foresight and knowledge, unique content delivery to keep you awake at your desk and so much more!
Register HERE.
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Web Summit 2020 - 2nd-4th December
Web Summit brings together the people and companies redefining the global tech industry. Join us online this December.
Register HERE.
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Paris Blockchain Week Summit 2020 - 9th-10th December
Paris Blockchain Week Summit is back in 2020. Join the best European blockchain conference and crypto event: with 2500 attendees, 130 speakers, 100 media partners and 50 sponsors. Come to France for the digital asset revolution!
Register HERE.
www.pbwsummit.com  •  Share
Ready to get involved? Click here to find out more.
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