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Daily research from FinTech Global Record low for Irish FinTech deal activity in Q1 2024 after 66% drop YoY In the first quarter of 2024, the Irish FinTech sector experienced a significant downturn in both deal activity and fundraising. There were only three deals made during this period, which represents a 66% decline compared to the first quarter of 2023. Additionally, the total capital raised by Irish FinTech companies amounted to $7m, marking a 77% reduction from the funds secured in the same quarter the previous year. This substantial decrease highlights a cooling in investment enthusiasm within the Irish FinTech landscape. ? Quantmatix, a firm that assists professional investors in evaluating stock and asset selection, had the largest Irish FinTech deal in Q1 2024 after raising $2.9m in their seed round from Angel investors: Halo Business Angel Network (HBAN) and Enterprise Ireland. Quantmatix has developed what cofounder Liam Boggan describes as “market GPS”, to help traders and investors to inform and time investment decisions, predicting prices and market performance across a range of asset classes that includes equities, fixed income, foreign exchange, crypto, and commodities. It does not offer investment advice, but supports regulated advisers to identify market trends. Quantmatix was founded in 2021 by Mr Boggan and Paul Chew, and currently employs around 10 people with plans to double that number before the end of the year. It has plans to expand its sales and marketing base in the US, Middle East and Asia, tech expertise in AI and big data analytics as it is poised to take on the lucrative US market. The Bank of Ireland released their financial regulatory priorities for 2024 in January. Key focuses include updating the Consumer Protection Code to adapt to a more digitalized financial services sector and enhancing protections for consumers. Efforts will also intensify on addressing systemic risks within the non-bank sector and expanding the understanding of macroprudential risks. The Individual Accountability Framework will be implemented to ensure firm compliance and support stakeholders in meeting new standards. Preparations for the Digital Operational Resilience Act are underway, particularly relevant given Ireland's substantial technology sector. Additionally, the implementation of the Markets in Crypto Asset Regulation and the Credit Unions (Amendment) Act 2023 will proceed, including necessary updates to the Credit Union Handbook and modifications to Central Bank Regulations. Policy development and supervisory expectations regarding the use of artificial intelligence in financial services are also on the agenda, in anticipation of the EU's AI Act.

Daily research from FinTech Global Middle East FinTech deals fall 35% in Q1 2024 YoY compared to 8% drop in general market In the first quarter of 2024, FinTech in the Middle East witnessed a decline in deal activity, totalling 24 deals, marking a 25% decrease from the same period in 2023. Despite the persistent efforts, there was a significant downturn in fundraising, with FinTech companies in the region collectively raising only $19.5m, indicating an 85% drop YoY. Reapbitex, an encrypted crypto portfolio, had the largest FinTech deal in the Middle East during Q1 2024 after raising $6m in their seed round extension. Reapbitex has a MSB license, issued by the U.S. government, is widely recognized as the gold standard for crypto trading. Reapbitex’s acquisition of this license is a testament to its commitment to regulatory compliance, security, and transparency. With this license in hand, Reapbitex is poised to establish itself as a long-term player in the crypto exchange arena, assuring users of a secure and legally compliant platform. The platform is now gearing up for a groundbreaking move – the launch of its first platform coin, REAP. The UAE was the most active country in the Middle East with 14 deals, a 58% share of deals. This was followed by Saudia Arabia and Oman with three deals each, a 12.5% share of deals. The latest Middle East finance regulation came from The Central Bank of the UAE, which has issued the long-awaited Open Finance Regulation, establishing a comprehensive framework for the licensing, supervision, and operation of Open Finance in the country. The Regulation, published in the Official Gazette on April 15, 2024, will be implemented in phases as notified by the CBUAE. This development is significant for the UAE's financial sector and impacts all categories of CBUAE licensees. Open Finance promises increased control and options for consumers while driving innovation and growth in the financial sector. Ahlan App Rize | ???? QRNSYS Zara FX Rakeez Capital | ???? ??????? RABEH Mushtari | ????? Sorbet

In a market of poor investor confidence, due to geopolitical and economic uncertainties, it is great to see the UK Fintech sector experiencing a significant increase in investment! The UK Fintech sector experienced a surge in investment in the first half of 2024, with total funding nearly tripling compared to the same period in 2023. This article offers some insightful funding statistics. ? Key insights include: - UK Fintech investment surges: Investment in the UK's Fintech sector nearly tripled in the first half of 2024, reaching ￡5.8bn compared to ￡2bn in the same period in 2023. - Major Fintech deals: ￡3.2bn buyout of IRIS Software Group. ￡787m venture capital round by Abound, a marketplace platform focused on small businesses. - Global Fintech Environment: The global Fintech sector saw a decline in investment, dropping from ￡49.1 billion in H2 2023 to ￡40.9 billion in H1 2024. - Industry outlook: The UK Fintech sector is poised for growth with anticipated interest rate cuts and an expected rise in investment in AI and Regtech. Further, new EU regulations, like the upcoming MiCA (Markets in Crypto Assets), are likely to impact the FinTech sector, especially in the crypto and digital asset spaces. ? Overall, some very positive news for the UK Fintech sector. ? #Investment #Funding #VC #Fintech #Growth ? https://lnkd.in/e4f_HhFq

Can UK FinTech seize the crown from the USA? - IBS Intelligence: The UK has demonstrated that its FinTech sector can flourish in times of prosperity but also hold its own when the going gets tough as well,

Can New Zealand Capitalise on Positive Steps to Bolster its Fintech Landscape?: The following is an economic development and, specifically, fintech landscape and overview of the Asia Pacific nation of New Zealand.

UK continued to dominate the European FinTech market with a third of all deals in the region: European FinTech investment stats in Q2 2024: FinTech deal activity in Europe dropped by 77% YoY UK continued its domination of the European?...

As we welcome the first day of spring, the question arises: Is 2024 still poised to be a turnaround year for UK Fintech funding? ?? ? Undoubtedly, the latter part of 2022 and the entirety of 2023 saw UK fintech funding facing significant challenges amid high rates, escalating global conflicts, and the lingering economic downturn post-COVID. However, amidst these trials, the sector exhibited remarkable resilience and ingenuity, attracting over half of the European fintech funding in 2023 alone. ? Looking ahead, 2024 appears even more promising. Here's why: ?? The UK government's unwavering support for the sector is evident through its launch of initiatives aimed at fostering growth and collaboration. ?? The UK fintech ecosystem is now richer and more diverse than ever, spanning across various segments including digital assets, payments, lending, wealthtech, insurance, and regtech. ?? Embracing emerging technologies such as AI, blockchain, and biometrics, the UK fintech sector is poised to revolutionize customer experiences, drive cost efficiencies, and enhance overall operational effectiveness. Current forecasts predict that the UK will secure over $5.1 billion in fintech investment this year, propelled by declining interest rates, heightened digital adoption, and strategic expansions into new markets. ? Notably, February alone witnessed a flurry of funding raises from notable UK-based companies including NayaOne, Pimberly, Superfluid, Juniper, KYND, Ribbon, Partners Capital Investment Group, Navro (formerly Paytrix), docStribute??, and Artificial Labs. ? I firmly believe that given the activity I’m seeing through the extensive amount of fintech clients we’re currently working with here at ZRG Partners, LLC, 2024 holds immense promise for the UK fintech sector. ? What are your thoughts given the viewpoint you have on the UK fintech market in 2024? Share your insights in the comments below ?? ???? ???? #fintech #uk #2024 #ZRGpartners #zrgfintech #digitalassets #crypto #floan #lending #banks #ukchallenegerbanks #payments?

The Role of Fintech in Shaping the Future of Finance in Australia Australia's financial landscape is evolving rapidly, and Fintech is at the forefront, reshaping how we handle money, investments, and transactions. From digital banking to cryptocurrency, Fintech innovations are revolutionising the way we think about finance. So, what's the role of Fintech in shaping our financial future? Accessibility: Fintech is making financial services more accessible to everyone, breaking down barriers and empowering individuals and businesses to manage their finances with ease. Innovation: With Fintech, traditional financial services are being reimagined and enhanced. Whether it's AI-powered investment platforms or blockchain-based solutions, innovation is driving efficiency and effectiveness. Disruption: Fintech is shaking up the status quo, challenging traditional financial institutions to adapt or be left behind. This disruption fosters competition, ultimately benefiting consumers with better products and services. Economic Growth: As Fintech continues to thrive, it stimulates economic growth by fostering entrepreneurship, attracting investment, and creating new job opportunities in the financial and technology sectors. Security and Trust: Despite being innovative, Fintech prioritises security and trust. With robust cybersecurity measures and transparent practices, Fintech companies aim to build confidence in their services. In Australia, the Fintech revolution is well underway, and its impact is undeniable. As we embrace these advancements, let's harness the power of Fintech to build a more inclusive, efficient, and resilient financial ecosystem for all Australians.

To effectively regulate Africa’s fintech sector, regulators need to strike a balance between protecting the economy and consumers and creating an enabling environment for innovation. Achieving this balance requires a deep understanding of the sector’s peculiarities, which can only come from collaboration and knowledge sharing between innovators and regulators. “The future of fintech regulation is collaboration and information sharing. Regulators must remember that they have a duty to create an enabling environment for innovation to thrive,” TechCabal’s Joseph Olaoluwa writes. https://lnkd.in/dB346_KS #fintech #financialservices #regulatoryaffairs #regulations #africa

Daily research from FinTech Global The UAE accounted for more than half of Middle Eastern FinTech deals in Q1 2024 In the first quarter of 2024, FinTech in the Middle East witnessed a decline in deal activity, totalling 24 deals, marking a 25% decrease from the same period in 2023. Despite the persistent efforts, there was a significant downturn in fundraising, with FinTech companies in the region collectively raising only $19.5m, indicating an 85% drop YoY. ? Reapbitex, an encrypted crypto portfolio, had the largest FinTech deal in the Middle East during Q1 2024 after raising $6m in their seed round extension. Reapbitex has a MSB licence, issued by the U.S. government, and is widely recognized as the gold standard for crypto trading. Reapbitex’s acquisition of this licence is a testament to its commitment to regulatory compliance, security, and transparency. With this licence in hand, Reapbitex is poised to establish itself as a long-term player in the crypto exchange arena, assuring users of a secure and legally compliant platform. The platform is now gearing up for a groundbreaking move – the launch of its first platform coin, REAP. The UAE was the most active country in the Middle East with 14 deals, a 58% share of deals. This was followed by Saudi Arabia and Oman with three deals each, a 12.5% share of deals. The latest Middle East finance regulation came from The Central Bank of the UAE, which has issued the long-awaited Open Finance Regulation, establishing a comprehensive framework for the licensing, supervision, and operation of Open Finance in the country. The Regulation, published in the Official Gazette on April 15, 2024, will be implemented in phases as notified by the Central Bank of the United Arab Emirates (CBUAE). This development is significant for the UAE's FinTech sector and impacts all categories of CBUAE licensees. Open Finance promises increased control and options for consumers while driving innovation and growth in the financial sector.