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Global FinTech News - 26th of February

Global FinTech News - 26th of February
By Holland FinTech  • Issue #87 • View online
Dear fintech reader,
This week, Australia has approved the legislation that forces tech giants like Facebook and Google to pay for the reference to news sources. We also saw a rise in bond yields in fear of inflation, putting pressure on stock markets, with Nasdaq 100 shedding almost $900 billion of its value in a week.
Explore what other insights we have selected this week from the fintech world - analysis & opinion, research, funding, news - and dive into the latest hot topics: cybersecurity, payments, money transfers, M&A, RegTech, and of course crypto.
This morning in our Flash Friday Event, our Founder & CEO, Don Ginsel, discussed the latest on identity solutions and security with René Hendrikse, Managing Director and VP Sales at Mitek Systems EU. In case you missed the session, tune in on our YouTube channel here.
From the Holland FinTech Team, we wish you a sunny weekend!

Highlights from last weeks news related to fintech
Cybersecurity, Bitfinex, payments, money transfer, EPI. Dive into the news selection below:
  • 2 more companies suffered breaches in SolarWind cyber attacks; the US space agency NASA and the Federal Aviation Administration
  • eftpos (an Australian shared payment scheme) has launched a fintech advisory committee in collaboration with FinTech Australia, as a way of giving fintech firms a direct say in how they can access and leverage the ecosystem
  • Cryptocurrency firms Tether and Bitfinex agree to pay $18.5 million fine to settle a long-running legal dispute launched by the State of New York
  • Klarna, a Swedish payments firm, strong in Buy-Now-Pay-Later services, is said to be raising USD 1 billion at a USD 35 billion valuation, even though the company is likely to list on the stock market soon
  • Governor Shaktikanta Das (RBI, India) shared his concerns about cryptocurrencies, flagging the potential risks they may pose to financial stability
  • TransferWise, an online money transfer service, has rebranded now under Wise
  • AfterPay, an Australian Buy-Now-Pay-Later company, has entered a partnership with Stripe, an Irish-American payments company, which will facilitate the merchants using Stripe code with the opportunity to offer customers the option of installment-based purchases
Read more about this news HERE.
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The largest funding rounds we found from across the world
Explore the trends and transactions in the fintech world, gathered from 17 February to 24 February. Find out the latest domains of activity, ranging from digital banks, matchmaking services, to buy-now-pay-later digital platforms:
  • TymeBank (Johannesburg, South Africa), a digital bank, announced that it has secured a $109 million (€89,59m) investment
  • Ageras Group (Philadelphia, US), a professional matchmaking service personally connecting businesses with accountants, bookkeepers, tax experts and more, raised €60M from Lugard Road Capital
  • Penta (Berlin, Germany), a digital platform for business banking aimed at SMEs and startups, managed to top up its series B investment, which now totals to €30m
  • Peak AI (Manchester, UK), which has built technology that it says can help enterprises, has closed a round of $21 million (€17,28m)
  • Wisetack (San Francisco, CA, US), a startup that provides buy-now-pay-later services to in-person business transactions, announced that it has closed a total of $19 million (€15,63m) across two rounds
  • Rows (Berlin, Germany), a startup setting out to reimagine the spreadsheet with cloud-based team collaboration in mind, has raised $16 million (€13,15m) in a series B round
  • Other fundings we found interesting include: 1Kosmos (€12,33m), Katana (€9,04m), Sphere (€8,22m), FUNDtastic (€6,33m), EurdiFi (€4,11m), AppMan (€3,78m), Kleeen (€3,13m), Insurely (€2.5m)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Seek the most up-to-date information in terms of reports, with various topics to explore: tech trends, Big Data, Covid-19 implications, RegTech:
  • “Game-Changing Tech 2021” (CB Insights) - this report highlights top 10 technological trends expected to dominate the year of 2021
  • “FinTech funding in Singapore hit lowest level in four years in 2020 as large deals dried up” (FinTech Global) - this overview pinpoints the lack of deals over $50m resulted in a 58.6% decline in funding last year in Singapore
  • “From trust to impact: Why family businesses need to act now to ensure their legacy tomorrow” (PwC) - in today’s business environment, in which the pace of change is accelerating, profit will need to be aligned with purpose
  • “Use of big data sources and applications at central banks” (BIS) - Big data sources are developing fast, and applications for making use of this new information are flourishing in parallel
  • “The future of work after COVID-19” (McKinsey Global Institute) - this report analyzes the lasting impact of the pandemic on labor demand is assessed, together with the mix of occupations, and the workforce skills required in eight countries with diverse economic and labor market models
  • “Fintech Industry Advisory panel: Accountability Report” (CSBS) - this paper dives into the regulatory proposals for February 2021 by the Fintech Industry Advisory Panel, focused on creating common definitions and practices in the field, increasing transparency in the fintech landscape
  • “Will governments return to the past or nurture a digital future?” (EY) - in this publication, a more in-depth analysis is given on the work still yet to be done by governments to ensure a proper recuperation of the global economy in a post-Covid world
Read more about the research papers and download the pdf’s HERE.
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Background information and insights from opinion leaders and experts
Hear from fintech experts opinions, get concrete insights on debates, and explore the data landscape, mobile payments, IT, cryptocurrencies, financial software marketplaces:
  • “Facing new competitors, banks need to make better use of data” via Finextra - Stuart Houston, Director, Financial Services at Google Cloud Asia Pacific & Japan, highlights new challenges that banks are starting to face, mainly coming from the constantly shifting consumer preferences
  • “Fintech, explained” via MIT Sloan School of Management - in this analysis, Tracy Mayor, Senior News Editor & Writer at MIT Sloan School of Management, explores the four key characteristics which make fintechs successful, namely: entrepreneurship, technology, domain knowledge, policy and regulation
  • “Why are Apple Pay, Starbucks’ app, and Samsung Pay so much more successful than other mobile wallet providers?” via Business Insider - Jaimie Toplin, writer at Business Insider, explores the US mobile wallet ecosystem, which has seen a rapid expansion, with most customers having a payment option provided by their smartphone vendor, like Apple, Android, or Samsung Pay
  • “Modernising IT and security in financial services with visibility” via Bobsguide.com - Martyn Crew, director at Gigamon, dives into key trends that have contributed to the disruption of traditional IT within financial services, making the current landscape unrecognisable to that of ten or twenty years ago
  • “Even If Bitcoin Falls Again, Company Adoption Of Crypto Is Not Going Away” via Forbes - Kenneth Rapoza, Senior Contributor at Forbes, explains why the crypto market has seen a spike compared to the same period last year
  • “B2B financial software marketplaces: the bridge to market transformation” via FinTech Futures - Akber Jaffer, Chief Commercial Officer at Finastra, looks at B2B financial software marketplaces which connect players across the breadth of an industry and facilitate the digital exchange of data or financial assets
  • “Consumer fintechs will fail unless they rethink their business, says top bank exec” via Sifted.eu - Isabel Woodford, fintech journalist at Sifted.eu, pinpoints the issues with consumer fintech businesses, together with Claire Calmejane, Chief Innovation Officer at Societe Generale
Read more about these analyses & opinion pieces 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! This month we will focus on the topic of InvesTech! Join us to follow the pitches and be updated on the latest developments!
Register HERE.
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Benelux InsurTech Digital Meetup - 11th March
It is clear that today’s ‘new normal’ has speeded up digitalisation in our day-to-day lives. As digital distribution channels saw an all-time high in terms of traffic, the insurance industry needs to face this accelerated digital transformation. Therefore LHoFT, Holland FinTech and FinTech Belgium have joined forces to inspire all the insurance stakeholders.
Register HERE.
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Technovity 2021 - 5th March
Technoviti for the Fintech and Big Tech Sector will explore what is going to be shaping the NEXT in Financial Services. We will put together all the possible triggers that have redefined the future of financial services business and the technologies that power it.
Register HERE.
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Finnovity 2021 - 6th March
We invite business and technology players from Banking, Fintech, Technology, Security, innovations, Payments, and related ecosystems to take advantage of this elite gathering of 500 plus BFSI delegates and participate at the Finnovity 2021!
Register HERE.
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Fintech Expo - 10th-11th March
As part of the FICCI Fintech Expo 2021, we will have leading Indian fintech companies join us and showcase their products and tech offerings to financial institutions.
Register HERE.
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Venture Summit Virtual Connect West - 16th-18th March
Holland Fintech invites you to join over 200 leading VCs, Corp VCs, Angel Investors and over 100 Top Innovators at #VSVC Venture Summit Virtual Connect West.
Register HERE.
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FTT Identity - 17th March
FTT Identity is an online event launching 17th March 2021. Kicking off at 11AM GMT, we will capture an international audience from Europe to North America.
Register HERE.
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Ready to get involved? Click here to find out more.
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