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Global FinTech News - 30th July 2021

Global FinTech News - 30th July 2021
By Holland FinTech  • Issue #109 • View online
Dear reader,
As the world is dealing with unprecedented flooding across multiple continents, and the Tokyo Olympics setting new records across multiple sports competition, we are focusing on the fintech industry and provide you with the latest insights, varying from new central bank digital currencies, launches on new markets, SaaS platforms, new crypto programmes to new AI solutions.
In the meantime, we invite you to browse through our events recording collection here, for you to revisit some topics of interest.
From the Holland FinTech team, we wish you a sunny weekend!

Highlights from last weeks news related to fintech
Take a closer look at the main highlights from fintech this week, focusing on topics such as new central bank digital currencies, launches on new markets, SaaS platforms, new crypto programmes, and more:
  • India and Nigeria, two of the world’s largest emerging economies, are ramping up their plans to launch central bank digital currencies
  • A six-month extension to implement Strong Customer Authentication (SCA) for e-commerce transactions has been welcomed by UK banks
  • LendingArch, has launched personal loans platform Loanz.com in North America
  • IDVerifact, a Digitak Identity solution provider and subsidiary of Prodigy Ventures, has partnered with Railz to provide trusted digital asset solutions to enterprise clients
  • After the recent $639 million raise, BNPL company Klarna has acquired German discount shopping app Stocard for €113 million
  • Mastercard has launched a new cryptocurrency, digital assets, and blockchain programme for start-ups. The Start Path scheme involves seven global crypto and digital assets companies
  • Amazon has denied a British newspaper’s report that it is planning to accept bitcoin payments by the end of the year
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
Discover the latest fintech deals and transactions selected from 21 July - 28 July, gathering funding rounds from various sectors, including cryptocurrency, APIs, payments, cyber insurance, accounting softwares, insurtech, investment platform, payment network, AI tools, financial expertise, loan services and collection operations.
  • FTX (Cambria, WI, US), a crypto exchange company, has officially closed its Series B funding round, drawing in $900 million (€761,5m) from an array of investors
  • Solarisbank (Berlin, Germany), a BaaS platform, has raised €190 million ($224 million) in a Series D that values the company at €1.4 billion ($1.65 billion)
  • Nium (Singapore, Singapore), a business payments company, has become a unicorn after raising more than $200 million (€169m) in a funding round led by Riverwood Capital
  • At-Bay (San Francisco, CA, US), a cyber insurance startup, raised $185M in Series D Funding valued at $1.35 Billion (€1.14b)
  • Zilch (London, UK), a buy now, pay later lender, raised a further $110M of debt and equity funding as part of an extended Series B round
  • FloQast (Los Angeles, CA, US), provider of workflow automation software for accountants, raised $110M (€93m) in Series D funding at a valuation of $1.2 billion (€1.016b)
  • Other interesting funding rounds for this week: Ethos (€85m), Titan (€49m), Paystand (€42.3m), Tailor Brands (€42.3m), Veda (€38m), Paystone (€25.4m), Paro (€21m), Dwolla (€17.8m), Sila (€11m)
Read more about the funding news HERE.
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A selection of recent research reports and papers worth reading
Explore the latest research reports, investigating funding trends and corporate activity, cryptocurrencies, AI, cash, fintech, payment methods and retail:
  • “AI In Numbers Q2’21: Funding Trends, Exits, And Corporate Activity” (CB Insights) - This report features data-driven findings from emerging tech insights platforms. Investment trends, corporate activity, top deals, and more are being analyzed
  • “Alessa whitepaper outlines key crypto know-how for financial institutions” (FinTech Global) - This whitepaper investigates how financial institutions (FIs) can deal with the cryptocurrency market and manage its associated risks. It looked at the range of different types of cryptocurrencies in the market, as well as some of the major cryptocurrency businesses or virtual asset service providers (VASPs) that the FIs should know about
  • “Inside AI. Over half of the companies using AI in India are using it at a scale of organizations” (INSIDE) - This paper explores India’s role as a vital AI partner with the U.S., which benefits from a large talent pool and fast-growing AI innovation scene, according to a new Center for Security and Emerging Technology report
  • “Most people have ‘reasonable access to cash,’ finds FCA” (FStech) - This publishing lists results of a new research from the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), which states that most people have reasonable access to cash through a combination of bank services or post office branches and ATMs
  • “FinTechs use market alliances to offer leading savings products, research finds” (FinTech Global) - The findings show how fintech manages to offer market-leading savings products to their clients
  • “Can This Network Theory Predict if Bitcoin Is Undervalued?” (Coindesk) - This research determines the value of Bitcoin, by looking at the predictive power of Metcalfe’s Law, that states the value of a network grows along with the number of possible connections
  • “The Payment Methods Report 2021” (The Paypers) - This report presents a comprehensive overview of the payment methods for 2021, as well as best practices for checkout optimization
  • “Cryptocurrencies In Retail: Consumer Adoption Report 2021” (CryptoRefills) - This work presents the outcomes of the first and largest research regarding the consumer use of Bitcoin and other cryptocurrencies for retail shopping and associated payments
Read more about these research papers HERE.
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Background information and insights from opinion leaders and experts
Get an overview on data integration, use cases of digital banking, data reconciliations, cryptocurrencies, cash, banking & fintech and retail.
  • “Why a strategic approach to data integration is key for mergers & acquisitions in insurance” via FinTech Global - Writers at FinTech Global explore a new strategic approach to data integration and its influence for mergers and acquisitions in the insurance industry
  • “How COVID-19 has accelerated the use of digital banking solutions in Africa” via Fintech Futures - Ellen Kumwenda Mtine, Head Cash Management, Transactional Banking, Africa (ex. S.A.) at Absa CIB, investigates the impact of COVID-19 on the usage of digital banking solutions in Africa that will have an impact across organizations, businesses, regulators, consumers and society
  • “AI and machine learning spearheading rapid change in data reconciliations” via Fintech Fututres - Writers at Fintech Future analyze the AI’s and machine learning spearheading that is facing a rapid change in data collection reconciliations
  • “Over half of crypto experts believe bitcoin will replace fiat money by 2050” via FinTech Global - Writers at FinTech Global share the majority of experts’ beliefs that bitcoin will replace the money issued by central banks in less than 30 years
  • “FCA/PSR: Pockets of vulnerability remain but most UK consumers have reasonable access to cash” via Finextra - Writers at Finextra highlight the result of research commissioned by the Financial Conduct Authority and the UK’s Payment Systems Regulator
  • “Starling chief Boden bristles with confidence as the bank pulls away from fintech pack” via Finextra - Writers at Finextra explore Anne’s Boden statement (CEO at Starling) saying that the fledgling bank is pulling away from its loss-making fintech peers as revenues soared by 600% to nearly £97.6 million in the 16 months to March 2021
  • “Retail needs to innovate to stay relevant — here’s how” via Sifted - Steph Bailey, publisher at Sifted, dives into the topic of how retailers can keep customer attention now, as the COVID-19 situation is now more under control
Read more about these analyses 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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Open Banking Asia - 19th August
Open Banking Asia Digi-Conference will bring together senior decision makers from central banks, leading banking and financial services institutions in Asia to discuss how the region can effectively implement open banking, unlock its potential, and capitalize on the financial services market opportunities it creates for the banking industry.
Register HERE.
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Fincrime Virtual Week | ACFCS – Join us for a Virtual Week - 2-6 August
After a year of tumult and crisis, the time is ripe for creativity and innovation. Whether you’re analyzing customer risk, investigating a fraud case, or following up on an alert, you’re working each day to secure the financial system from the worst elements of the criminal underworld. Your mission, should you choose to accept it, is to find creative ways to think like a financial criminal and identify weak points in your program before they’re exploited by bad actors.
Register HERE.
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