FinTech News Issue #29 August 20th, 2015

FinTech is the new digital landscape for the world of finance. In London, UK, there is a thriving FinTech community, with a specialised hub of innovation found at Level39 on Canary Wharf. Netguru can now proudly announce that we have become official members of Level39.

Switzerland-based financial services firm UBS has launched its Future of Finance Challenge, an open competition for entrepreneurs and tech startups from around the world, offering winners cash prizes and acceleration worth over US$300,000.

Investments into FinTech startups recently quadrupled, growing from just over $3 billion in 2013 to over $12 billion in 2014. And consider alongside that another trend showing that crowdfunding will surpass VC in 2016 as a funding source–given that crowdfunding itself is a segment of the FinTech market.

Officials with the United Kingdom are looking for a few good financial technology companies to go on a mission to the UK later this year. The focus is on learning more about the growing UK fintech network and on making connections to take their business global. The UK Trade & Investment will host the mission to London from Dec. 5th to Dec. 9th.

Two African fintech startups, Kenya’s SuperFluid and South Africa’s Creditable, are part of the first cohort of the DBS Accelerator in Hong Kong, a three-month programme that offers startups access to mentoring and key decision makers at DBS as well as the possibility of funding.

Following the huge success of the 2015 event, we are pleased to announce entries are now open to apply for the FinTech Innovation Awards 2016.

Accenture (NYSE: ACN) and 16 leading financial institutions have opened the application period for the fourth annual FinTech Innovation Lab London, kicking off a search for the top financial technology (fintech) innovators in the United Kingdom (UK), Europe and elsewhere.

As competition for the next big fintech hub heats up, governments and businesses are realising there is growing importance for a city to be a worthy place to attract investment and fintech investment in particular.

Samsung has joined the Visa Digital Enablement Program (VDEP), which offers a commercial framework aimed at making it easier for issuers and technology companies to access the Visa Token Service (VTS), which Samsung intends to use to offer secure payments.

Several startups are hard at work right now trying to build new, truly digital banks from the ground up.

Cryptocurrency companies that operate in, or serve customers who are based in, New York State had until 8th August to apply for a BitLicense.

On 15 September, fintech firms BBVA Open Talent, Consult Hyperion, NYPAY and Next Bank NYC will present keynotes and discussions as well as twenty fintech start-up demos competing as part of the BBVA Open Talent competition.

Alex Rampell, the cofounder and CEO of TrialPay, an e-commerce payment and advertising startup acquired by Visa V -0.09% this year, is joining Andreessen Horowitz as an investment partner.