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Global FinTech News - 2nd of October

Global FinTech News - 2nd of October
By Holland FinTech  • Issue #66 • View online
Happy Friday, dear reader!
Like always, we bring you the latest developments from the global fintech ecosystem! Read up on all your news, investment deals, research, analysis & opinion pieces. The articles this week cover a.o. Open banking, Financial education, Regtech, Brexit, Cyber security, payments and of course various VC action and IPO’s.
Don’t forget to check the Amsterdam FinTech Week website for the past #XFW20 sessions, that you can watch online: http://xfw.amsterdam/
And in case you missed this morning’s Flash Friday edition hosted by our founder Don Ginsel and co-hosted by Remco Jorna, Chief Chief Technology Officer at FintechOS, feel free to check out our YouTube channel here: http://bit.ly/1RXSiQU
What can you expect for next week? An intriguing event on the World Retail Banking Report with Capgemini on October 8th, another Flash Friday and the Holland Fintech meetup Online on October 9th! Have a good weekend!

Highlights from last weeks news related to fintech
These are the headers of the weekly news you can find on our insights page:
  • The UK numbers on open banking are still low, with just over 2 million users, but they are increasing very fast
  • MineralTree, a cloud-based software, has raised $50 million and acquired Inspyrus and Regal Software in order to expand its ranking in the mid-market segment
  • American Express (AmEx) and Amazon’s business-to-business (B2B) marketplace sign up a new deal on co-branded credit cards for UK SMEs
  • The Tokyo Stock Exchange experienced yesterday a hardware malfunction, which led to halt up trade activity for a full day
  • Deposit Solutions, a German-based Fintech unicorn, has announced its launch on the US market
  • A new partnership between Samsung, Visa and Solarisbank is in place for the German users in terms of contactless mobile payments service
  • Kazakh banking and fintech firm Kaspi.kz announced their decision to list on the London Stock Exchange
  • The UK National Cyber Security Centre predicts that cyber threats are on the rise
  • Gusto, a cloud-based payroll provider of benefits and human resource management software, raised $200 million for better product offerings
Read more details about this news and sources HERE.
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The largest funding rounds we found from across the world
We are bringing you the highlights of investment news from across the globe on our insights page. There were many and large deals this week, leading to a cut off at a minimum of $20 million. We have to mention in any case Robinhood’s funding of $660 million (€563.54m) that came out just after our newsletter was compiled.
  • Greenlight Financial Technology, a financial services company, also raised $215m (€183.58m) in Series C funding.
  • October, a digital lender for SMEs, raised an overall debt funding of $300 million (€258 million)
  • Alkami Technology, provider of cloud-based digital banking solutions, raised a $140 million (€119.54m)
  • Gusto, a cloud-based payroll provider of benefits and human resource management software, raised $200 million (€170.76m) for better product offerings
  • Petal, a credit card company, raised $55m (€46.96m) in Series C funding from Valar Ventures
  • Bitpanda, an Austrian broker focused on cryptocurrency investments, closed a $52m (€44.40m) Series A funding round
  • Airwallex, a technology company offering a forex and payments platform, has raised $40 million (€34.15m)
  • Papaya Global, an Israeli SaaS platform automating global payroll and global HR processes, has raised $40 million (€34.15m)
  • Ripjar, a data intelligence and analytics platform solutions, has raised $36.8 million (€31.42m) in a Series B funding
  • Axis Security, a company which provides safe remote access to companies’ systems by third parties, raised a $32 million (€27.32m) Series B investment
  • PayCargo, a payments network for the global supply chain industry, raised $35m (€29.88m)
  • Other fundings include: Facet Wealth - $25 million (€21.35m) and Coralogix - $25 million (€21.35m)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
This is a selection of the interesting reads we discovered this week, as reported on our insights page. Find the sources and links to the reports via the page link below.
  • A recent report from D4T4 Solution explores how banks can successfully meet customers needs by redesigning their services
  • According to a late report from McKinsey & Co, the US consumer banking industry is undergoing procedural changes
  • In a new paper by the Office of the Superintendent of Financial Institutions Canada, a new mandate for protecting depositors, policyholders, creditors and pension plan beneficiaries is presented
  • The “Fintech Credit Risk Assessment for SMEs: Evidence from China” report gives an overview of recent fintech innovations which could decrease the high information costs of credit services promotions to SMEs
  • The “Managing Climate Risk in the US Financial System” report concludes the importance of economy-wide price on carbon in order for financial markets to channel resources efficiently towards reducing carbon emissions
  • A global report by Fleischman Hillard and Money20/20 gives an overview analysis of how Covid-19 presents new challenges and opportunities for fintech
  • The report “Fintech 2030: The Industry View” by Tribe explores a forecast analysis on the future trends and the status of fintech industry
Read more about the research sources and download pdf’s HERE.
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Background information and insights from opinion leaders and experts
Discover our background analysis and opinion pieces are found on our insights page. That’s where a longer summary as well as the link to the original article is included.
  • Gina Clarke, Editor in Chief at The Fintech Times, argues that fintech sectors have been differently impacted by the Covid-19 pandemic
  • Ted Knutson, journalist at Forbes, emphasized that the Big Techs can impose threats for the financial system, mainly rising from the weak regulatory frameworks
  • Elaine Chen from Bloomberg states that female fintech funded startups are facing more obstacles when it comes to obtaining investments
  • Further gender biases are emphasized by Te-Ping Chenthe from the Wall Street Journal regarding AI start-ups
  • An analysis by CB Insights presents an overview of early pitch decks of 21 unicorn companies, such as LinkedIn or Airbnb
  • According to Julia Magas, researcher and journalist at Fintech Futures, new digitization processes are expected for payment leaders
  • According to David G.W. Birch, the fintech sector should focus on providing financial health offerings
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
In this Holland FinTech Online Event: Elias Ghanem, Global Head of Market Intelligence at CapGemini, and Vincent Fokke, CTO at Capgemini Netherlands, will be discussing the key highlights of the World Retail Banking Report 2020 in engaging session together with our one and only, Don Ginsel.
Register HERE.
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Apiax & EY Webinar: Staying compliant across borders - October 7th
Providing services to clients in different countries has always been an important pillar of the financial industry. In this webinar, Apiax and EY team up to discuss what companies need to consider when marketing their services to clients outside Switzerland.
Register HERE.
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Flash Friday: Staying Ahead of the FinTech News - October 9th
Holland FinTech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest fintech news and developments!
Every Friday at 09:30, Don will be joined by an industry expert to co-host the show. Together, the hosts will discuss what is happening in the world of fintech and answering questions from Holland FinTech members.
Register HERE.
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Holland FinTech Meetup Online - October 9th
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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Ready to get involved? Click here to find out more.
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