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Global FinTech News - 28th of August

Hello fintech enthusiast, This week has seen further news for the fintech industry. While enjoying th
Global FinTech News - 28th of August
By Holland FinTech  • Issue #61 • View online
Hello fintech enthusiast,
This week has seen further news for the fintech industry. While enjoying the last week of this summer, saying our goodbyes to the sunny weather and welcoming the new season, our team brings you again the four fintech categories of insights - news, investment deals, research, analysis & opinion.
Stay up to date with the latest developments from fintech and happy reading!
Do you run an Insurtech startup? Don’t forget to register for the ITC-DIA World Tour: https://insuretechconnect.com/itc-world-tour-startup-application/
And don’t forget to join us in 3 weeks for the launch of Amsterdam Fintech Week (XFW20)! XFW20 will be bringing together the fintech ecosystem for 6 days of physical and online events, to celebrate the most innovative players and companies in the industry.
From the Holland FinTech Team, we wish you a nice summer end!

Highlights from last weeks news related to fintech
  • Tandem Bank acquired Allium Money, a company that specializes in financing energy efficient home improvement projects
  • Visma is valued over USD 12 billion (€10.09bn), in latest investment from technology buyout fund Hg’s Saturn
  • Standard Chartered Bank Korea is collaborating with PayKey on a new embedded keyboard system for its smartphone users
  • WorldRemit, an online money transfer business is acquiring competitor Sendwave
  • Bitcoin venture capital firm Ribbit Capital has launched its IPO at a $350m (€294.38m) sum
  • JPMorgan Chase is potentially launching a new digital bank in the UK in Q1 2021
  • BBVA and Spanish startup Multiverse collaborate on quantum technology
  • The European Central Bank gives a critical look at risks brought by the Big Techs in finance
  • New Zealand stock market has shut down three days in a row due to DDoS attacks
  • Smartsheet is acquiring Brandfolder, a growth-stage SaaS company, for the sum of $155m (€130.37m)
Read more about the news section.
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The largest funding rounds we found from across the world
  • ReliaQuest, a cybersecurity managed service and intelligence platform for global enterprises, raised over $300m (€252.49m)
  • Waterdrop, an online insurance technology platform, announced that it has raised $230 million (€193.57m)
  • Mural, a digital workspace for visual collaboration in the enterprise that solves problems and builds consensus using visual methods, raised $118 million (€99.31m)
  • Redis Labs, an open source database and the provider of Redis Enterprise, closed a $100m (€84.16m) Series F financing
  • Socure, a predictive analytics platform for digital identity verification of consumers, raised $35 million (€29.46m) funding
  • Public.com, the social investing app, announced a strategic seven-figure investment
  • Other fundings include: Finix (€25.25m), Cobalt (€24.41m), AffirmLogic (€21.04m), Trove (€13.47m), Commonstock (€8.16m), Berbix (€7.57m), Wrapbook (€3.03m), Copper (€3.62m), PrizePool (€3.57m) and MagicCube (undisclosed sum)
Read more about the funding section.
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A selection of recent research reports and papers worth reading
  • The UN Secretary-General’s Task Force on Digital Financing of the Sustainable Development Goals (SDGs) highlights in their newest report findings and recommendations on how to harness digitalization in accelerating financing of the SDGs
  • BIS focuses in their latest report on the economic and institutional drivers of the central bank digital currencies (CBDCs)
  • Fintech Global finds that the global CyberTech investment is readjusting in Q2 2020
  • In Latin America, 3 fintech sectors are leading, covering over 95% of the market: payments, lending and digital banking
  • Another report by BIS highlights that web-based platforms for digital banking and finance transactions are on the rise
  • “The Nature of the Fintech Firm and its Implications for Financial Regulation” empirical paper investigates the changes arising from disruptive technologies
  • The Hong Kong Institute for Monetary and Financial Research (HKIMR) showed how the financial industry can strategically benefit from Artificial Intelligence to further develop on the long-term
  • Crunchbase presents an overview on the journey of venture funding during current pandemic
  • The “2020 Multinational BrandedPay” report from Blackhawk Network finds that 88% of consumers use digital wallets
  • CB Insights looks into the 203 most expensive startup failures so far
Read more about the research section.
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Background information and insights from opinion leaders and experts
  • Finovate Blog investigates the potential effect of digital behavior on credit scores
  • As pointed out by the MoneyNext Summit, fintechs are going for a leadership position platform, but strategies such as forming collaboration may prove to be more successful
  • Sifted.eu analyzed the potential obstacles for customers when it comes to fully trusting the fintech industry
  • When it comes to the evolution of technology for the financial services, banks and financial institutions are behind
  • According to BehavioSec, with new interest for the fintech industry comes further threats in terms of security and trust
  • Chris Skinner lays down the perfect recipe for creating a challenger bank
  • Fintech Bulletin highlights new opportunities for businesses coming from the combination of macroeconomic trends, regulatory developments and technological advancements
  • According to The New York Times, SPAC deals are on the rise due to mainly 3 reasons
  • Ant Group, an affiliate of Alibaba, is waiting on its listing in Shanghai and Hong Kong
  • According to the Wall Street Journal, companies are in the process of finding suitable solutions for monitoring their employees’ data handling
  • AI technology in India is seeing progress from the point of regulators
  • New innovations are in store for customers, such as facial recognition systems
Read more about the analysis & opinion section.
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Connect with us at some of the upcoming events
Home to one of the world’s first modern stock markets, Fintech startups have much to like about Amsterdam and its strong connections with the rest of the globe.
Find out more HERE.
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“Yalla, fintech!” Virtual Hackathon Series - 24th to 30th of August
“Yalla, fintech!”, the first-ever Pan-Arab Virtual Fintech Hackathon series is now live on FinX22 by FintechGalaxy! The virtual hackathons, sponsored by leading banks and regulators from various Arab countries, are aimed at brainstorming new ideas to fight against COVID-19, creating opportunities for the youth and innovating the way we do financial services for a more financially inclusive society. Registration for “Yalla, fintech!” is open until August 14. Hackweek will run between August 24 and 30 on FinX22, supported by a safe and secure API sandbox environment for rapid prototyping and commercialization.
Find out more HERE.
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ITC + DIA World Tour - Next stop: the Netherlands - 9th September
DIA & ITC are organising a world tour in the run up to their main events in Europe and the USA. The Netherlands session is held on 9 September, and co-organised by Holland FinTech. Part of their program, is a pitch competition, to get nice attention, but also to win tickets to DIA and ITC.
Find out more HERE.
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Pitch Your Startup - 15th to 16th September
In cooperation with Luxinnovation, Docler Holding launched a startup contest in 2014. The Pitch Your Startup (PYSU) initiative aims to assemble Luxembourg’s local players to support the country’s startup scene, attract international attention, foster innovative ideas.
Find out more HERE.
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Ready to get involved? Click here to find out more.
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