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Global FinTech News - 7th September 2022

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Global FinTech News - 7th September 2022
By Holland FinTech  • Issue #167 • View online
Dear reader,
This week Queen Elizabeth II, the UK’s longest-serving monarch, has died at Balmoral aged 96, after reigning for 70 years. She died peacefully on Thursday afternoon at her Scottish estate, where she had spent much of the summer.
Meanwhile, on Friday, ministers of the European Union are set to meet to debate a plan to intervene in the energy markets in a bid to tame prices. They will discuss strategies that could include price caps and mandatory cuts in energy usage.
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.
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.
hollandfintech.com  •  Share
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:
  • A group of Celsius Network borrowers wants a bankruptcy court to appoint an independent examiner to investigate the crypto-lender’s financials, but not one working for the U.S. Trustee office
  • Carbon Finance, a Nigeria-based microfinance entity, has become a full-service bank, underpinned by core banking software from Mambu
  • Ant Group’s insurance arm has launched a blockchain-based digital operation platform for insurance companies in China
  • Two U.S. Federal Reserve officials have called for new regulations specifically for stablecoins and reiterated the new asset class holds risks similar to traditional finance
  • SEBA bank, a crypto-friendly bank in Zug, Switzerland, announced the launch of Ethereum (ETH) staking for its institutional investors
  • The Hong Kong government is set to bring in a number of financial incentives to address what has been termed as a skills shortage, especially in terms of the fintech sector
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:
  • Fuel Labs, a Portugal based startup that aims to speed up crypto transactions, has announced an $80 million funding round from some of the sector’s biggest investors
  • Californian fintech start-up Solid, which offers a modern infrastructure for businesses to launch and scale fintech products, has raised $63 million in Series B funding
  • Financial management startup Mesh Payments has landed $60 million in new funding, 10 months after its last raise
  • Mexican commerce and digital payments platform Clip has obtained a $50 million credit facility from Morgan Stanley, J.P. Morgan and HSBC
  • Compliance technology and data analytics firm SteelEye has raised $21 million in a Series B funding round as it sets its sights on North American expansion
  • Credix, a Belgian fintech, has raised €11.32M in funding to connect institutional investors from all over the world with lenders in emerging markets
Find out more about this week’s funding rounds 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:
  • “Lloyds: almost 9 in 10 card payments now contactless” via (Finextra) - Nearly nine in 10 in-person debit card purchases are now contactless, according to data from Lloyds Bank. Spend on debit cards made in person using contactless technology has grown from 65% to 87% in the last three years.
  • “European SMEs face challenges with payments speed, study shows” via (The Paypers) - Banking-as-a-Service provider Vodeno has issued a study showing that European SMEs have concerns about the speed of payments and the need to modernise the system.
  • “Is fraud outpacing fintech?” via (Fintech Futures) - The Justice Committee revealed that fraudsters scammed consumers out of a record £1.3 billion in the UK alone last year.
  • “Future Fund shows benefits of alternatives, but it’s a crowded field” via (Euromoney) - Logging only a 1.2% decline over the past year is good going for Australia’s sovereign wealth fund, testament to a policy to build an inflation-ready portfolio relying heavily on private markets.
  • “6 out of 10 banks are demanding BNPL regulation, Credi2 study shows” via (The Paypers) - Austria-based Credi2 has released an embedded finance study, for which 120 decision-makers from banks were interviewed.
Read more about this week’s research here.
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Background information and insights from opinion leaders and experts
And we’re finishing off the week with new analysis and opinion on investing, open banking, metaverse and more. Dive into the latest fintech insights and have a great weekends:
  • “Making Smartphone Lifecycles as Smart as the Devices” via (Fintech Magazine) - Today, carriers are “fighting over price,” and he believes in a different approach; giving customers a truly differentiated experience.
  • “The Ethereum Merge Is Almost Here. What Could Go Wrong?” via (Decrypt) - It’s been awaited for half a decade, delayed for years, praised, condemned, tweaked, and so its developers say, perfected.
  • “How mortgage lenders can unlock data and help bridge the housing gap” via (Fintech Futures) - Homeownership is undoubtedly the most significant driver of generational wealth in America. However, faced with further economic uncertainty, it is now far from guaranteed for the current generation of homebuyers.
  • “Virtual fintech: How can banks become Metaverse ready?” via (Fintech Magazine) - Manish Patni, Lead Product Manager, Europe – Finacle, discusses the steps fintechs and banks must take to successfully enter the Metaverse.
  • “Just do it?” via (Fintech Futures) - Have you ever wondered how millionaires are born? By pure luck? By grit, as many in the start-up world would say? Or simply by making smart decisions with your retirement plans, as I have heard from a wealth manager recently? It is easy enough, they say.
  • “The IMF needs a new toolkit to help Ukraine” via (Euromoney) - Ukraine’s recent debt restructuring agreements with international bondholders give a better prospect of returning to market once its war with Russia ends.
Read more about this week’s analysis here.
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