Fintech News Issue #290 November 13th, 2020
Top Stories
China Vows Escalation in Clampdown on Fintech’s Dominance
— via BloombergChina’s top banking watchdog doubled down on a push to rein in financial technology companies such as Ant Group Co., promising to eliminate monopolistic practices and strengthen risk controls in the industry.
A big shift in the financial services industry is well underway. Consumer trust — the primary driver of brand preference — is no longer dependent on institutional legacy or brick-and-mortar footprint.
Fintech M&A rebounds from the pandemic
— via Financial PlanningRightSize Solutions, a firm providing IT and cybersecurity services to RIA firms, has been acquired by Swizznet, a cloud-based software company. Terms of the deal were not disclosed.
FinTech Articles
Visa rolls out Fintech Partner Connect programme
— via FinextraVisa is to provide financial institutions and merchants with seamless access to a roster of 13 curated fintech partners offering a suite of value added digital payments services.
Railsbank, the Banking-as-a-Service, raises $37M in growth funding
— via Tech CrunchRailsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding.
All eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency, the company announced Thursday. The firm also increased the amount of crypto that users can purchase in a week.
How Ant’s Suspended IPO Is Related to China’s Digital Yuan
— via CoindeskAnt Group’s suspended initial public offering (IPO) has shed further light on a possible motivation behind China’s digital yuan. The Chinese government appears to view the payments giant as a destabilizing force to China’s economy, and the digital yuan is a way to keep companies like this in check.
What do customers think?
— via The FinanserGroundbreaking report by The Economist Intelligence Unit uses machine-learning to analyse over 10 million online conversations about personal finance
"Fintech" Borrowers More Likely to Default?
— via Fintech Business WeeklyWell, it’s finally over, and Joe Biden will become President on January 20, 2021. Maybe some VC dollars need to flow to ‘votetech’ (and ‘pollingtech’, for that matter).
This Military Vet-Turned-Fintech Entrepreneur Uses Education and Communication to Grow His Business
— via EntrepreneurMac Angelo credits the Army with instilling his most important management lessons.
FinTech Ripple chooses Dubai International Financial Centre for regional headquarters
— via Gulf NewsRipple to work with local and regional institutions to revolutionise payments industry
Two Israeli fintech startups in Visa’s digital payments push
— via The Times of IsraelChargeAfter and Personetics are among 13 fintech firms selected by Visa to be part of a suite of new payment techologies it is offering European banking clients
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