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Global FinTech News - 5th of February

Global FinTech News - 5th of February
By Holland FinTech  • Issue #84 • View online
Hello fintech news seeker,
With the Netherlands preparing for the coldest week of the year, making everyone looking for their ice skates, the global Covid-19 vaccination rates are steadily rising, with the UK already passing the 10 million figure. Meanwhile, we keep an eye on innovation in the financial sector for you.
Dive into the most recent fintech developments - news, funding rounds, research reports, analysis & opinion - and explore topics and trends on transactions, M&A, IPOs, crypto, insurance, RegTech, AI, ML, APIs and much more…
Our Founder & CEO, Don Ginsel, explored the latest developments in regtech and financial crime in today’s Flash Friday edition, together with Owen Strijland, Financial Services and Fintech Director at Protiviti and Perry Huijgen, Manager at Protiviti. Check out the video recording here.
From the Holland FinTech Team, we wish you a nice weekend!

Highlights from last weeks news related to fintech
M&A, partnerships and collaborations, class-action lawsuits, remittances, RegTech, IPOs and more. Dive into the materials below for the latest fintech updates:
  • Robinhood, an online trading platform, which has seen demand surge amid a social media campaign targeting GameStop and other companies, raised $3.4 billion
  • Barclays, a British multinational financial services company, signed a deal with Smart Pension, a pension fintech, to promote the online pension solution to their business banking clients
  • Oracle Financial Services Software (Oracle FSS) has entered into an agreement with the Rabobank’s Brazil branch to use their Flexcube core banking solution
  • A new class-action lawsuit has been filed against Ripple, its CEO Brad Garlinghouse and its subsidiary XRP II, LLC, for selling millions of dollars of XRP without registering it either with federal or Florida authorities
  • Revolut, a UK-based digital bank, plans to introduce instant worldwide money transfer to and from India at no cost
  • ING announced its introduction of the shopping platform DealWise on the German market
  • United Fintech, a recently launched venture focused on buying up a slate of capital markets fintechs, acquired TTMzero, a technology and software company, formally entering the market data & RegTech space
  • Payoneer, a New York City-based cross-border payments fintech, says it will list via a special purpose acquisition company, or SPAC, backed by Bancorp founder Betsy Cohen
  • New findings show that financial institutions in Asia Pacific have received a record amount of fines for non-compliance to Anti Money Laundering regulations
Read more about this news HERE.
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The largest funding rounds we found from across the world
Transactions, new investments and trends for financial services. See below the selection of the top funding rounds of the week, selected from 27 January to 3 February:
  • Databricks (San Francisco, CA, US), a data and AI company, received $1 billion (€0.83bn) in Series G funding
  • UiPath (New York, US), a robotic process automation (RPA) platform, has closed a $750m (€623.9m) Series F funding round
  • Nubank (São Paulo, Brazil), a fintech company, raised $400 million (€332.9m) in a Series G funding round
  • Albert (Los Angeles, CA, US), a personal finance company, raised a $100M (€83.1m) Series C funding
  • Dave (Los Angeles, CA, US), a provider of a banking app, secured a $100m (€83.1m) credit facility from Victory Park Capital
  • Valon (New York, US), a tech-enabled residential mortgage provider, raised $50m (€41.6m) in Series A funding
  • Storfund (London, UK), a technology-driven e-commerce funding enterprise, announced that it secured $36.5M (€30.36m) capital
  • Other fundings which caught our attention this week: Check (€29.1m), MPOWER (€20.8m), CybSafe (€6.3m), SecurityAdvisor (€6.07m), INZMO (€3.1m), Precisely (€1.8m)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Remittances, RegTech, financial services, digitalization. Analyze the latest numbers and trends from fintech with the reports below:
  • “Mobile Money and International Remittances” (GSMA) - in this research, the importance of international remittances is highlighted, and the high traction they are gaining due to the development of mobile technologies
  • “Regulatory Approaches to the Tokenisation of Assets” (OECD) - this report provides conceptual clarity on asset tokenization and frameworks pursued by policymakers regarding this market
  • “Digital Delivery of Financial Education: Design and Practice” (OECD) - this report contributes to a better understanding of how public authorities worldwide are designing, delivering and evaluating digital financial education initiatives
  • “Solving onboarding – The catalyst in creating a unique end-to-end client relationship” (Finextra & box) - businesses in financial services firms have embarked on a digital transformation journey, but are still facing many challenges ahead
  • “FinTech funding in Latin America set a new record in 2020 led by large deals in Brazil” (Fintech Global) - fintech investments in Latin America have experienced growth throughout 2020, despite Covid-19 pandemic, with companies in the region raising $2.8bn last year
  • “The State Of Fintech Report: Investment & Sector Trends To Watch” (CB Insights) - this paper gathers data-driven insights regarding global fintech investment trends in key financial verticals, partnership activity, top deals, and more
  • “COVID-19: Making the case for robust digital financial infrastructure” (McKinsey) - in this analysis piece, it is explored how the pandemic served as a high-stakes, real-life stress test for the financial infrastructure in many countries, bringing into sharp relief critical gaps and opportunities
Read more about the research papers and download the pdf’s HERE.
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Background information and insights from opinion leaders and experts
Opinion leaders, industry experts and researchers. Find out what topics the top voices from fintech are exploring:
  • “Retail investors rush to find the next stock market unicorn” via Financial Times - James Bianco, president of Bianco Research, explores why stocks have gone up in value so quickly over the last period
  • “Bitcoin may ‘break down altogether’ – BIS chief” via Finextra - according to Agustin Carstens, a BIS general manager, Bitcoin is under increased attack
  • “Billions of answered daily API calls & the Fintech API economy” via Medium - Efi Pylarinou, Founder of Efi Pylarinou Advisory, shares her concerns in terms of cybersecurity, raised by the rapid developments in API infrastructure for finance and embedded finance
  • “Payments In 2021: Five Trends Driving Industry Transformation” via Forbes - Jordan McKee, Research Director at 451 Research, explores the rise of digital commerce, the proliferation of emerging payment methods and the development of next-generation payment infrastructure
  • “Calls for CRM to include PISPs and electronic money issuers” via Bobsguide.com - Aoife Morgan, writer at Bobsguide.com, highlights the newest findings from the review conducted by the UK’s Lending Standards Board, uncovering the barriers of entry for fintechs
  • “Digitalization: The Future of Wealth Management” via Finextra - Venkatesh Padmanabhachari, Co-Founder and Director Maveric Systems, highlights one of the most important factors underlying the digital transformation for WealthTech – the changing dynamics of the potential investors
  • “Why Google Pay’s reboot signals a major land grab on financial services” via FinTech Futures - Leon Gauhman, Chief Strategy Officer of Digital Product Consultancy at Elsewhen, explains that with the relaunch of the Google Pay app, Big Tech’s competitive threat to both legacy banks and fintechs is about to be realised
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
Embedded Insurance may provide an answer to some of these challenges. Providing relevant insurance at the time a consumer needs it, embedded in another transaction. With simple products and a frictionless experience. So what’s exactly happening in this fast growing segment? And what are the ingredients required to make it work? Join this event to find out!
Keynote speakers: Florian Graillot – Astorya.vc, Michael Mackaaij – Verne, Ruud van Hanswijk – de Volksbank.
Register HERE.
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Holland FinTech Online Meetup - 12th February
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. Join us and Gresham Hunt, NCC Group, EMS and Star for an afternoon of updates on the latest fintech developments and more!
Register HERE.
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Finnovex East Africa - 9th-10th February
Finnovex East Africa will discuss the roles of banking and non-banking institutions, financial organizations, investment firms, fintech companies, and other stakeholders in developing incentives to the paradigm shift in this sector.
Register HERE.
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Sthlm FinTech Week 2021 - 9th-10th February
Sthlm Fintech Week is an annual event bringing together thought-leaders to foster new connections and enhance collaboration.
Register HERE.
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Flash Friday: Staying Ahead of the FinTech News - 12th February
Holland FinTech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest fintech news and developments! 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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Future of Finance & CFO Summit - 16th-17th February
he 2021 Future of Finance and CFO Summit will be going virtual – 100% online! The event will not only ensure you meet like-minded finance professionals, but give you the opportunity to hear first-hand accounts from CFOs and finance leaders.
Register HERE.
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Ready to get involved? Click here to find out more.
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