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Global FinTech News - 23rd July 2021

Global FinTech News - 23rd July 2021
By Holland FinTech  • Issue #108 • View online
Dear fintech reader,
This week, Western Germany and parts of Belgium experienced deadly floods which caused severe devastation and the largest evacuation of the year. Furthermore, with regards to the Covid-19, a majority of Dutch provinces were categorised at Europe’s most serious risk level for the virus. Seven of the country’s twelve provinces were classified at the Dark Red level by the European Centre for Disease Control and Prevention (see the map).
Back to fintech, this week was highlighted by news and developments from various sectors: payments, online banking, investment, data management. Take a look at the sections below to get the latest updates, statistics and analyses.
From the Holland FinTech Team, we wish you a happy weekend!

Highlights from last weeks news related to fintech
Dive into this week’s news for fintech in terms of open banking, financial management, M&A, fintech partnerships, open data, ecommerce and more:
  • The new rules on open data and public information are being revised by Member States with the deadline of 17 July 2021
  • Visa announced its plans to acquire Currencycloud, a global platform that enables banks and fintechs to provide foreign exchange services for cross-border payments
  • Mollie, a Dutch payment service provider, announced it will be opening a development hub in Lisbon, Portugal
  • Circle, a provider of payments infrastructure for internet businesses, and Mastercard announced to use the USD coin to facilitate crypto-to-fiat conversions in a pilot programme
  • Australian buy now, pay later firm Afterpay is diversifying through the launch of a ‘money and lifestyle’ app
  • Facebook Pay is extending its reach outside of the social media platforms, enabling online merchants to add the service as a payment option directly on their own sites
  • Fidelity International, one of the world’s largest investment firms, has become the first asset manager to commit to the Fintech Pledge
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
Discover the latest fintech deals and transactions selected from 14 July - 21 July, selected from various sectors such as: cryptos, NFTs, mortgage, cyber security, network management, SaaS, payments and banking.:
  • Insightsoftware (Raleigh, North Carolina, USA), a software provider, received $1 billion (€850M) investment from Hg
  • Revolut (London, UK), a banking service provider has raised $800 million (€680M) in a new funding round
  • Cybereason (Boston, MA, USA), a maker of a threat detection and response platform, has raised $275 million (€233M) in new late-stage funding
  • Cloud-based network management software firm Auvik Networks Inc (Waterloo, Canada) has raised $250 million (€212M) in new funding
  • Investment application startup M1 Finance (Chicago, Illinois, USA), has raised $150 million (€127M) in a late-stage funding
  • MPOWER Financing (Washington, DC, USA), a fintech platform and provider of education loans to high-promise students around the world, raised an equity investment of $100m (€85M)
  • OpenSea (New York, NY, USA), a provider of NFT marketplace, raised $100M (€85M) in a funding round which valued it at $1.5 billion (€1.3bn)
  • Virsec (San Jose, CA, USA), a cybersecurity company dedicated to fully protecting software as it is executing, raised $100m (€85M) in Series C funding
  • Other interesting funding rounds for this week: Marco Financial (€70m), Cardless (€34m), Morty (€21m)
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 cryptos, DataOps, cloud systems, IT, SPAC, RegTech, digital transformation:
  • “The Investor’s Perspective on the Bitcoin Taproot Upgrade” (Coindesk) - This report looks into the merits of the upgrade from the investor’s perspective, outlines some potential drawbacks and issues a reminder that Bitcoin is an investment in technology
  • “DataOps: Moving Financial Services Organizations Into The New Economy” (FStech) - This paper gives insights about implementing a data operations (DataOps) approach and the key advantages it will deliver
  • “Driving successful Cloud Transformation” (Finextra) - This research is based on interviews with senior leaders on their plans and challenges around digital programmes and cloud modernisation
  • “SPAC Mania Screeches To A Halt In Q2’21” (CB Insights) - Results show that the first quarter of this year saw a record 298 SPACs formed, raising $83B — up from 135 deals and $36B the quarter prior
  • “Global RegTech funding already set a new annual record just six months into 2021” (Fintech Global) - Findings reveal that RegTech companies raised $9.2bn across 222 deals in the first half of the year driven by large transactions over $100m
  • “Fintech and the digital transformation of financial services: implications for market structure and public policy” (BIS) - This analysis gives rise to important policy issues regarding competition, regulatory perimeters, and ensuring a level playing field
  • “Epidemic Exposure, Fintech Adoption, and the Digital Divide” (European Bank for Reconstruction and Development) - This paper researches whether epidemic exposure leads to a shift in financial technology usage within and across countries
Read more about these research papers HERE.
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Background information and insights from opinion leaders and experts
Get an overview on identity verification and authentication, crypto regulation regime, digital banks, ransomware, green finance, ecommerce, customer experience, and buy now pay later services:
  • “Strengthening Identity Verification and Authentication With FIDO” via Medici - Writers at Medici explore solutions to strengthen identity verification and authentication
  • “Tech & Crime Series: Is it time for a bespoke UK crypto-regulation regime?” via Finextra - Thomas Cattee, solicitor at Gherson, dives into the topic of crypto assets within the finance promotions regime, and the introduction of a broader regulatory regime
  • “You need to add physical to digital, not vice versa” via Thefinanser.com - Chris Skinner, blogger at The Finanser, advises financial services providers to start with the data, the customer journey and user experience
  • “State of Crypto: Ransomware Is a Crypto Problem” via Coindesk - Nikhilesh De, writer at Coindesk, highlights the role of cryptocurrency in ransomware and malware’s spread
  • “BlackRock MD: Fintech can plug data gaps in green finance” via Bobsguide - Tom Lemmon, writer at Bobsguide, identifies the common hurdles for green investing
  • “Ecommerce: What’s Key to Building Customer Relationships?” via Global banking and finance - Tim Harrison, co-founder and director of WatchPilot, emphasizes that the more positive the customer experience, the more likely the customer will return
  • “Apple And Goldman Sachs To Launch Apple Pay Later, A Buy Now Pay Later Service” via Forbes - Ron Shevlin, Senior Contributor at Forbes, sheds light on the payment sector, with the new launch of a BNPL service from Apple
Read more about these analyses HERE.
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Connect with the fintech ecosystem at some of the upcoming events
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!
Register HERE.
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Finnovex Southern Africa - 27th-28th July
Finnovex is a series of Summits that examines the Future of Financial Services on how disruptive innovations are reshaping the way they are structured.
Register HERE.
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Increasing Conversion Quality All Around the World - 27th July
A webinar with PPRO and Bancontact, moderated by The Paypers. Mélisande Mual of The Paypers moderates a chat between PPRO, the leading global provider of local payments infrastructure, and Bancontact, one of the most popular payment methods in Belgium.
Register HERE.
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Interpol & Onfido: Train like a border guard - 29th July
In this one-off session, specialists from Interpol and Onfido will offer participants a unique insight into the world of fraud. Taking some of the principles of what it’s like to train as a border guard, speakers will examine how many of the techniques used to catch and prevent fraud can also be applied in the business world.
Register HERE.
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Ready to get involved? Click here to find out more.
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