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Global FinTech News - 2nd September 2022

Global FinTech News - 2nd September 2022
By Holland FinTech  • Issue #166 • View online
Dear reader,
This week the world’s leading economic authorities sounded the alarm about the forces working against the Federal Reserve, European Central Bank and other central banks as they combat the worst inflation in decades.
Meanwhile, Poland’s top politician said that the government will seek equivalent of some $1.3 trillion in reparations from Germany for the World War II invasion and occupation of their country.
You can find information about upcoming events, new investments, research and breakthroughs within the industry. In addition, find more ways to support Ukraine here. Happy reading!
From the Holland FinTech team, we wish you a great weekend.

Connect with the fintech ecosystem at some of the upcoming events.
Sponsor Announcement!
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Sander van Prooijen (Commercial Director Benelux) and Robbie Hadfield (Solution Engineer) from Payhawk will share data and actionable advice to help businesses position their finance teams to support business growth and stability
For more information please visit https://xfw.amsterdam/ or contact us directly at [email protected]
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Holland Fintech Meetup - September
This Meetup will be the kick off of our Amsterdam Fintech Week starting on 13th of September. We will provide you with the overview of the program and some additional insights related to the event and summit!
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SME Lending Product Owners Meetup - Holland FinTech
SME Lending Product Owners meetup at the Five Degrees headquarters office. This informal meetup is exclusively for product owners within corporate banking providers. It provides an opportunity to exchange experiences with other industry product owners, connect and discuss current, relevant topics together.
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11th NextGen Payments & RegTech Forum
11th NextGen Payments & RegTech Forum is a face-to-face event that aims to provide the opportunity to connect and explore new business opportunities with key decision makers from across the entire Payments & RegTech community. The forum will take place on the 21- 22 September 2022 in Athens, Greece.
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Highlights from last weeks news related to fintech
Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, banking, crypto, regulations and more:
  • HM Revenue & Customs (HMRC) has extended its use of Open Banking to 24 further tax regimes so far in 2022, according to Global Government Fintech
  • Australian BNPL firm Afterpay is killing off its Money app – and the related partnership with Westpac – as parent Block readies the launch of its Cash App in the country
  • The Qatar Central Bank has issued the first licence in the country for digital payment services to Ooredoo Money and iPay by Vodafone Qatar
  • Singapore’s central bank wants to promote a digital asset ecosystem while restricting crypto speculation
  • Nigeria-based Open Banking service provider Mono has released the Mono Telco data API to businesses in Nigeria
  • FinTech Capdesk has been snapped up by Silicon Valley equity unicorn Carta
  • Germany is intending to create a new financial crime authority that would seek to bring together several areas under one umbrella
  • Visa has issued its four billionth network token for e-commerce payments, surpassing the number of physical cards it has in circulation worldwide
  • Moove, the world’s first mobility FinTech and Uber’s largest vehicle supply partner in EMEA, has launched in London as part of its global expansion
  • The operator of Polish mobile payment system Blik is looking to expand internationally through the acquisition of Slovakian player Viamo
Read more about this week’s news here.
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The largest funding rounds we found from across the world
New week – new closed funding rounds! This week’s funding highlights cover personal finance, software, crypto, BNPL, and many more!
  • SageWealth has announced the recent closing of a €500,000 pre-seed funding round.
  • Capital on Tap announced Thursday that it has secured a $237 million credit line from $3.8 trillion JPMorgan and investment firm Triple Point.
  • Moneyflow, a Denmark-based fintech, has raised EUR 250 million in asset-backed debt funding from Aion Bank, to fuel the growth of its platform
  • Indian lending fintech EarlySalary has raised US$110mn in funding as it seeks to make credit, like cash loans and salary advances, more accessible.
  • Solid, the leading fintech-as-a-service platform that offers modern infrastructure for any company to launch and scale fintech products, today announced its $63 million Series B funding round.
  • Alloy, the leading Identity Decisioning Platform for banks and fintech companies, announced that it raised an additional $52 million led by Lightspeed Venture Partners and Avenir Growth and more.
Read more funding news here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on credits, investment, security and crypto. Enjoy researching!
  • “Crypto-crime revenue drops by 65% – report” via (Finextra) - Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.
  • “Underwriting with alternative and cash flow data” via (Fintech Futures) - For consumers and small businesses, access to affordable credit plays a crucial role in bridging the gap between short-term cash inflows and outflows as well as in supporting long-term financial health.
  • “The UK Is the Only European Country to Have a Four Figure Average Monthly ‘Fraud’ Search Volume” via (The Fintech Times) - Since March 2020, consumer spending habits have changed significantly, and that includes the way we use our credit cards online
  • “Financial Services Continues To Be Prime Target for Ransomeware Attacks; Barracuda Research Reveals” via (The Fintech Times) - The financial sector was identified as one of the most targeted industries for ransomware cyber attacks in the last 12 months by the latest research from cyber company, Barracuda.
Read more about research here.
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Background information and insights from opinion leaders and experts
We’re ending the week with new analysis and opinion on NFT, open banking, metaverse and more. Dive into the latest fintech insights and have a great weekend!
  • “In this inflation crisis, banks should prioritize their reputations” via (Euromoney) - Banks may soon match energy companies for political unpopularity – posting soaring profits, even as customers struggle with the cost-of-living crisis, and higher interest rates.
  • “How open banking payments will help businesses keep up” via (Fintech Futures) - The pandemic forced consumers to spend more online and alerted them to the benefits of digital payments.
  • “Fraud in the unregulated Metaverse: Is your money safe?” via (Fintech Magazine) - David Sancho of Trend Micro Europe discusses the pros and cons of Metaverse investment and which threats pose the biggest challenges.
  • “3 Cities That Aspire to Be Future Metaverse Hubs” via (The Fintech Times) - While the topic of the metaverse is still new for all, there are some countries in the world that are starting to get their heads around it.
  • “Why ISOs need to embrace software – and how they can do it” via (Fintech Magazine) - Nick Starai says independent sales organisations (ISOs) should start thinking about the value proposition of a software-led integrated payment offering.
  • “The role of the payments industry in saving people and planet” via (Fintech Futures) - The 2020s has been called the ‘decisive decade’ in terms of strengthening climate cooperation.
Read more about analysis and opinion here.
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