Fintech News Issue #222 June 20th, 2019

Brett King and Jason Henrichs host USAA‘s Neff Hudson and IBM‘s Global Fintech lead Paolo Sironi, talking the end of Chase’s Finn, Digital Transformation, and how financial transparency and economics are changing in the digital era, starting with global economic uncertainty that has stimulated movements like Brexit and Trump. Will Adam Smith economics survive? What does it mean for banking?

“It literally threatens the governments that issue currency, the banks that store it and the actual transmission network,” said Brown, co-founder of the automatic debt payment and financial savings app.

There’s $7 trillion of market cap for U.S. based financial institutions. In most major industries, the “challenger” technology company is now the most dominant — Facebook, at $540bn, is the most valuable media company, and Amazon is 3x the size of Walmart, at close to $1tn in market value.

Tally, a San Francisco-based financial technology startup, has raised $50 million in new venture capital funding.

Why are there so few fintech IPOs? That's the topic of a new Pitchbook study.

Agility and innovation in fintech depend not only on collecting the data, but how you’re able to leverage it. Knowing which metrics to measure, and especially the interplay between them, will help illuminate the complete story about your customers, your business and the market.

The battle for supremacy in Australia’s financial technology sector may be heading for a truce, and it’s good news for the consumer.

Your ecosystem network is only as effective as your knowledge of the main players within your market. In order to maximise the key components of your company, such as R&D, talent acquisition and sales and marketing, and position yourself with precision, a thorough evaluation of competitors and partners is essential.

Financial technology (fintech) refers to the infrastructure for modern digital payment rails, payment processing, back-end settlement of assets on capital markets and many other financial pieces of software and hardware.

With over 1.9 million customers in the U.K., on Thursday the rapidly growing banking unicorn Monzo announced plans to launch in the U.S..

Algorithmic fintech lending is less discriminatory against minorities than traditional loan officers, according to a recent study of US mortgages. The findings signal hope that technology could provide financing that’s more fair, but the research also underscores how widespread discrimination remains.

The Gulf is the world’s biggest source of outbound remittances worldwide and fintech startups are vying to disrupt the ultra-competitive sector, but regulatory hurdles and scaling difficulties will make it tough for unorthodox providers to succeed in the region.