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May, 2017
Archive

987

Facebook just got hit with a $122 million fine over WhatsApp

By MD for Fast Company

The €110 million fine was levied by the European Commission over Facebook’s acquisition of WhatsApp in 2014. The EC said Facebook had provided “incorrect or misleading information” when it said it wouldn’t be able to link the profiles of users on WhatsApp and Facebook. (more…)

Deals, Global trends, Hotnews, Influences FinTech

May 18, 2017

1075

Indian Bank Kotak Mahindra Implements Blockchain in Trade Finance

By CCN,

Kotak Mahindra Bank, one of India’s largest private banks, has successfully completed an end-to-end trade finance transaction with a client over a blockchain. (more…)

Banks, Blockchain, Government activities, Hotnews

May 18, 2017

1908

Ex-Tandem CTO onboard for Dubai-based digital bank

The former CTO of UK challenger Tandem has joined forces with experienced execs from the more traditional banking sector to build a digital-only bank in Dubai. (more…)

Banks, InspirAsia, Mobile payments/banking, Mobile-first banks

May 18, 2017

1839

PayPal partners with Android Pay for mobile payments

In news from the Google I/O the tech giant announced that they will partner Android Pay and PayPal for a mobile payments platform, the companies announced this morning. (more…)

Global trends, Hotnews, Mobile payments/banking

May 18, 2017

US merchants paid $88.39 billion in card fees in 2016

Credit, debit, and prepaid general purpose and private label cards issued in the United States generated $5.936 trillion in payments for goods and services in 2016. (more…)

Credit/Debit/Prepaid cards, Fintech news, Global trends, Hotnews

May 18, 2017

1850

Insurtech Report: Hype or the Next Fintech Frontier?

Oliver Wyman is out with a report on the emerging Insurtech sector. Oliver Wyman is a global management consultancy operating in 30 different countries. For this specific report, they partnered with Policen Direkt Group in Germany, an insurance technology firm. (more…)

Hotnews, Insurance

May 18, 2017

2435

LendUp launches a better credit card for people looking to improve their credit

By Ryan Lawler for Techcrunch

LendUp has spent the last several years helping people who couldn’t get a loan build their credit and improve their financial well-being. Now the company is looking to empower those with little or no credit by giving them access to a credit card with low fees, financial education built in and incentives to spend less and pay off their balance. (more…)

Credit scoring, Credit/Debit/Prepaid cards, Fintech news, Global trends, Hotnews

May 18, 2017

1820

Verse grabs $20.5M to take its p2p payments play beyond Europe

By Natasha Lomas for Techcrunch

Social payments app Verse has closed a $20.5 million Series B round of funding from its existing investors. The round is led by Spark Capital, with eVentures and Greycroft Partners also participating. It raised its Series A in October last year, when it took in $8.3M. (more…)

Deals, Fintech news, Global trends, p2p-payments

May 18, 2017

895

SoFi moves into wealth management

By SoFi

Today, SoFi announced the general availability of SoFi Wealth, the first low-cost online wealth management platform to combine an easy-to-use online and mobile interface with unlimited access to live, licensed financial advisors, giving people the guidance they need to understand, define, and then work toward achieving their investing goals. (more…)

Deals, Global trends, Hotnews

May 17, 2017

2014

Fintech unicorn Transferwise moves into the black

Fintech unicorn Transferwise says the company has reached operational profitability six years after launch. (more…)

eWallets, Fintech news, Global trends, Hotnews, news, p2p-payments, Remittances

May 17, 2017

1452

Open APIs – Leveraging Banking As a Service to Compete and Collaborate

By David Donovan for Finextra

“Rolling in my Uber, that’s just how I use my time” – Travis Scott, Uber Everywhere Remix.  (more…)

Hotnews, Open Source/ API

May 17, 2017

929

Online Lender Earnest Said to Be For Sale

According to a report by Bloomberg,Earnest is up for sale. The San Francisco based online lender is said to have an asking price of $100 million. Founded in 2013, Crunchbase reports Earnest has raised over $99 million not including an undisclosed sum in a VC round in January 2016 and $200 million of debt financing.

(more…)

Deals, Fintech news, Global trends, Hotnews, p2p/online lending

May 17, 2017

1582

Andreessen Horowitz Leads Funding Round in Robo-Advisor OpenInvest

OpenInvest has received $3.25 million in Seed funding led by high profile VC Andreessen Horowitz. The Fintech firm also received funding from Abstract Ventures, Wireframe Ventures and SV2. OpenInvest is described as “social impact investing platform” targeting retail investors. The Robo-advisor enables investors to align their investment goals with their values while engaging with companies to drive social change. (more…)

Financial Markets / Trading, Wealth management

May 17, 2017

1211

Trade Finance Platform Launches With 16 Banks On Board

CCRManager has launched an electronic trade finance, supply chain finance and working capital platform, with 16 banks across the globe already onboarded to the solution, the company saidTuesday (May 16). (more…)

Banks, Global trends

May 17, 2017

1096

P2P Lender DoFinance Opens Office in Indonesia as Part of Asian Expansion

DoFinance, part of the Latvian Alfa Finance Group, has opened an office in Indonesia as part of an Asian expansion of their peer to peer lending operations. DoFinance said they were applying a “customer-oriented approach set to European standards” for private Asian investors. (more…)

p2p/online lending

May 17, 2017

Moni Raises $3m in Funding

Moni, a Buenos Aires, Argentina-based fintech platform, raised $3m in funding. (more…)

Deals

May 16, 2017

OpenInvest Raises $3.25m in Seed Funding

OpenInvest, a San Francisco, CA-based social impact investing platform for retail investors, raised $3.25m in seed funding. (more…)

Deals

May 16, 2017

1968

Goldman Says Brazilian FinTech Will Disrupt Traditional Banks

By PYMNTS

Brazil is seeing a boom in financial technology, which, according to a new Goldman Sachs report, will chip away at the market share of the banks in the country. (more…)

Global trends, Hotnews

May 16, 2017

1106

This Startup Wants to Modernize Public Finance

By Fortune

When the city of Lawrence, Kan. wanted to borrow $650,000 to pay for a new fire truck for its local fire department, it didn’t use traditional banks and bonds to borrow money. Instead it turned to Silicon Valley upstart Neighborly, a two-year old marketplace that connects cities with investors to fund civic projects like schools, parks, and bridges. (more…)

Government activities, Payment processors/providers/gateways

May 16, 2017

Singaporean fintech startup 4xLabs secures $1.5m for global expansion

By Jack Ellis for TIA

Singapore-based 4xLabs closed a pre-series A round worth US$1.5 million, it announced today. (more…)

Deals, InspirAsia

May 16, 2017

1786

Trulioo Launches ID Document Verification With Facial Comparison Technology

By LTP

rulioo and Mitek join forces to offer a comprehensive global identity verification solution for fraud prevention and AML/KYC compliance (more…)

Fintech news, Global trends, RegTech, Security

May 16, 2017

1324

Monzo hits 200,000 users; £250 million spent

As of this weekend, more than a quarter of a billion pounds has been spent through Monzo cards by more than two hundred thousand customers! (more…)

Banks, Hotnews, Mobile-first banks, Open Source/ API

May 16, 2017

1147

ABN Amro’s payment app Tikkie passes half a million users

By ABN Amro

Less than a year after it was first introduced, pay-back app Tikkie has reached and passed the landmark of half a million users. This makes Tikkie the fastest-growing payment app in the Netherlands. (more…)

Banks, Fintech news, Global trends

May 16, 2017

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1866

Alibaba Invests In Its First Fintech Company In Hong Kong

As reported by Forbes today, Alibaba has invested in online invoice exchange marketplace Qupital, marking the Chinese e-commerce giant’s first foray into fintech investment in Hong Kong. Qupital raised a total of $2 million in its seed round. (more…)

Cashless, Deals, eWallets, Hotnews, InspirAsia

May 16, 2017

1028

Chinese Celebrity-Backed Fintech Firm QuantGroup Considering US IPO

Fintech company QuantGroup, which was founded by several notable Chinese movie stars, is considering a US IPO, according to an article published in Bloomberg last week. The firm is looking to raise an estimated $200 million according to unnamed sources. (more…)

Deals, Global trends, Hotnews, InspirAsia

May 16, 2017

1089

P2P Property Lender Lendy Tops £300 Million. Speed, Security & Low LTVs Key to Growth

By Crowdfund Insider

Peer to peer property lender Lendy has surpassed £310 million in originations with £50 million coming in last 100 days. The P2P lender states that investors and developers are responding to post-Brexit slowdown in bank lending.  Lendy adds that quick turnaround, security and low Loan to Value (LTVs) are key to their growth. Lendy says there are over 16,000 registered users on their site. (more…)

Global trends, p2p/online lending

May 16, 2017

1758

CreditHero wants to help fix credit scores for those afraid to even look

By Matthew Lynley for Techcrunch

With apps like Robinhood and services like Wealthfront for investing, and Credit Karma to check your credit score regularly, it might seem like financial services are finally getting more palatable and mainstream. But to Nicole Sanchez, people still need to have decent credit to get to the point where they’ll use those services — and that’s a huge hurdle to cross. (more…)

Credit scoring, SME

May 16, 2017

1105

Lending Club and Marketplace Lending – One Year On from Renaud Laplanche’s Ouster

By Peter Renton for Lending Academy

We take a look back at lessons learned on the one year anniversary of the ouster of Renaud Laplanche at Lending Club. (more…)

Global trends, Hotnews

May 15, 2017

3284

As VCs pivot from lenders, case for deposit-side fintech is less clear

By American Banker

Companies that aggregate consumers’ financial lives are having a moment. (more…)

Deals, Global trends, Influences FinTech, People of fintech

May 15, 2017