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Global FinTech News - 2nd July 2021

Global FinTech News - 2nd July 2021
By Holland FinTech  • Issue #105 • View online
Dear fintech reader,
On the first of July, the pan-European Stoxx 600 climbed 13.49% year-to-date, in line with positive trends and record highs in many equity markets. Furthermore, 130 countries worldwide are accepting a minimum corporate tax rate of 15%, as proposed by the G7.
We are back again on the news in fintech, exploring the newest trends from the industry sectors: cybersecurity, AI, payments, banking, partnerships, and more!
This Friday morning, Founder and CEO of Holland Fintech Don Ginsel was joined by Paul Rooijmans, Founder & CEO at Tranzer. The hosts discussed what is happening in the world of mobility & fintech. If you missed the chat session, check the recording here.
From the Holland FinTech Team, we wish you a nice weekend!

Highlights from last weeks news related to fintech
The highlighted topics for this week are: M&A, payments, stock exchange, cyber security, and regtech:
  • JPMorgan announced an agreement to acquire sustainable investing-focused financial technology company OpenInvest
  • The spin-off of deferred payments provider Tinka marks a new phase in the digital and business transformation of former Wehkamp Finance
  • MobilePay will merge with Vipps and Pivo and form the most comprehensive and one of the largest bank-owned wallets in Europe
  • German stock exchange operator Deutsche Boerse was buying a two-thirds stake in Swiss fintech Crypto Finance
  • The EU regulation establishing a new European Cybersecurity Competence Centre and a Network of National Coordination Centres is entering into force
  • Mastercard has strengthened its fraud-fighting capabilities with the acquisition of regtech firm Ekata
  • Britain’s Financial Conduct Authority said that Binance is not permitted to undertake any regulated activity in the UK
  • Fintech companies Deposit Solutions and Raisin have announced the completion of their merger, forming Raisin DS, a pioneer in the savings and investment market, servicing banks and consumers on both sides of the Atlantic
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
Dive into the latest deals of this week from multiple sectors including cybersecurity, AI, HR automation, banking, credit cards, savings, cryptocurrency, and lending, selected from 23 June to 30 June:
  • Viva Republica (Seoul, Korea), a technology firm behind super app Toss, has raised $410 million at a valuation of $7.4 billion (€6.2Bn)
  • Illumio (Sunnyvale, CA, USA), a provider of applications to prevent cyberattacks, has closed a $225 million (€189M) Series F funding
  • ClearScore (London, UK), a credit marketplace, raised $200M (€168M) in funding at a valuation of $700m (€588M)
  • Smart (London, UK), a global retirement savings technology platform provider, raised £165m (€192M) in Series D funding
  • SmartAsset (New York, NY, USA), an online platform for financial advice connecting consumers with financial advisors, closed a $110m (€92M) Series D funding
  • Chainalysis (New York, NY, USA), a blockchain data platform, raised $100m (€84M) in Series E financing
  • Lower (New Albany, OH, USA), a home finance platform, has raised $100 million (€84M) in a Series A funding
  • Other interesting funding rounds for this week: Accept.inc (€76m), Orum (€47m), Deserve (€42m), Kaiko (€20m), Slice (€17m), Pequity (€16m), Spotr.ai (€2.5m)
Read more about this week’s funding news HERE.
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A selection of recent research reports and papers worth reading
Explore the latest data on Canadian banking, cyber security, global fintech rankings, cryptos and more trends & research pieces:
  • “21+ Canadian Banking Statistics You Shouldn’t Miss in 2021” (ReviewLution) - This article provides an insight into the banking industry in Canada as a whole
  • “The number of new malicious files detected every day increases by 5.2% to 360,000 in 2020” (Kaspersky) - Results show that in 2020, an average of 360,000 new malicious files were detected per day—an increase of 5.2% when compared to the previous year
  • “The 2021 Global Fintech Rankings” (Findexable) - This report presents a comprehensive ranking of countries based on the strength of their fintech ecosystems
  • “Cointelegraph Consulting: Report pictures a crypto-consumer portrait” (Cointelegraph) - This survey indicates the reasoning behind why active users are interested in switching to crypto payments
  • “Fraud Report: Massive increase in Brand Abuse cyber attacks” (Payments Cards & Mobile) - The report features insights from January through March of 2021, collected while authenticating consumer transactions and investigating threats
  • “24,057% Increase in Crypto Crimes Since 2016 Finds Crypto Head” (The Financial Times) - The findings of this research analysed crime statistics of cryptocurrency
Read more about research papers HERE.
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Background information and insights from opinion leaders and experts
Topics of interest for this week include: insurance, payments, NFTs, money laundering, banking and compliance:
  • “How is digitization altering insurance claim settlement?” via Insurtech Insights - Writers at Financial Express look at the entire claims settlement journey for insurers, starting right from prevention to notification of loss
  • “Digital Transformation of AML/CFT” via Fatf-Gafi - Writers at FATF highlight the new technologies and working areas, focusing on the opportunities and challenges of new technology
  • “Opinion: Neo Insurers Offer a Brand New Insurance Roadmap” via insurance-edge - Alastair Walker, journalist and editor at Insurance-Edge, looks at how new start-ups are competing, and challenging with the existing insurance culture
  • “Robots transforming branch experience” via ATM Marketplace - Bradley Cooper, editor of Digital Signage, underlines that banks from across the world are beginning to use robots for tasks
  • “Watershed year for cashless vending expected to continue” via Vending Times - Elliot Maras, editor at Vending Times, reveals that 2020 marked a watershed year for cashless vending transactions
  • “Ultimate Beneficial Ownership: the next compliance challenge” via PMC - Writers at PMC emphasize that instant payments are especially popular with SMEs as they promise faster settlement
  • “Will The Growth In NFTs Change The Trajectory Of The Banking And Payments Industry?” via Forbes - Bob Legters, contributor at Forbes, dives into the impact of NFTs and DLT on banks
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.
Register HERE.
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Flash Friday: Staying Ahead of the Fintech News - Holland FinTech - 9th July
Holland FinTech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest fintech news and developments.
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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Ready to get involved? Click here to find out more.
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