BBVA targets Colombia's innovation sector
Welcome to?your?daily?FinTech?news!
SVB NEWS
In client call, SVB's new CEO urges clients to bring funds back to the bank. Three days into his tenure as Silicon Valley Bank's government-appointed CEO, Tim Mayopoulos has a message for his high-powered venture capital and startup clients : Bring your money back.?
Union Square Ventures warned startup founders in November to diversify their deposit holdings after alarm over SVB. It gave USV founders a prophetic message four months before the bank was shut down by federal regulators last week, sparking a banking catastrophe not seen since the Global Financial Crisis.
First Republic Gets $30 Billion of Fresh Deposits in Bank Rescue. The biggest US banks pledged $30 billion of fresh cash for First Republic Bank to stem the turmoil that has sent depositors fleeing from regional banks and shaken the country’s financial system.
INSIGHTS
Fed to Launch Instant Payments System ‘FedNow ’ in July. Additional features and enhancements will be integrated with future releases to continue checking the safety, resiliency, and innovation boxes. The central bank announced that the FedNow service will start operating in July later this year.
FCA warns there is “unacceptable risk” among payment firms. The FCA says it will “act earlier and more assertively” where common failings are not fixed. Link here ?
Payments providers targeted with crackdown to prevent fresh crisis. UK’s FCA threatened to shut down so-called shadow banks – which offer deposit and transfer services without a banking licence – unless they “ensure your customers' money is safe”.
TNEX named “Best Digital-only Bank in Vietnam” by The Asian Banker for the second year in a row. TNEX experienced another year of high growth reaching 1.5 million customers , posted a year-on-year growth of 200%. It has developed advanced tools to simplify its customers’ everyday banking needs.
Buy now pay later: Regulation Around the World. Regulators are concerned that consumers may not fully understand the implications of entering into a BNPL scheme. Learn more
Global state of open finance, provides a perspective on the total addressable opportunity, potential economic impact, and critical success factors to support its growth leaders from banks, FinTechs, and technology platforms help develop market estimates.
FINTECH NEWS
Adyen drives conversion uplift with advanced authentication solution. Engineered to optimize authorization and therefore end revenue , the company’s expanded capabilities include Delegated Authentication, Data-Only, and Trusted Beneficiaries functionalities.
ACI in sale talks with Motive Partners . Motive has been looking to secure financing for the acquisition , says Bloomberg , citing sources. Publicly-listed ACI has a market value of around $2.5 billion. A deal has not been finalised and talks could still fall through.
MoneyLion CEO reports path to profitability. Dee Choubey , MoneyLion’s Co-Founder and CEO, outlines his company’s response to the current banking crisis, discusses the super-app giant’s public-market performance, and predicts MoneyLion’s path forward in the coming year.
DIGITAL BANKING NEWS
BBVA targets Colombia's innovation sector.?Spain's BBVA is setting up a business unit, called Spark , which provides a product and service range tailored to the life cycle of tech companies, from the startup stage right through to their emergence as major corporations.
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PARTNERSHIPS
ClearBank and Code First Girls partner to close fintech gender gap to support more women into the fintech industry and to help them recruit female coders into their team, Code First Girls CEO Anna Brailsford said.
PXP Financial , Mastercard and Payall team on cross-border payments. This collaboration offers inclusive payment capabilities that enable PXP Financial's customers to send funds to their partners, employees and suppliers safely, efficiently and more conveniently than ever.
Mastercard partners e& Egypt on digital wallet. e& Egypt will leverage Mastercard’s technology and digital assets to create innovative open payment solutions. Customers can also create an Etisalat Cash e-wallet on their mobile phones to facilitate a host of seamless digital transactions.
Wingspan raises $14M for its all-in-one payroll platform for contractors. The company says the cash is being put toward expanding the Wingspan platform and team, since it plans to double its 20-person team by the end of the year.
TymeBank reaches 6.2m clients as billionaire Patrice Motsepe injects R2bn. It adds the prospects of Tyme Global and the thesis around building a multi-country digital bank at scale are starting to come to fruition.
Payabli closes $12,000,000 seed round to make software companies, payments companies. The new round of funding will go to further catalyzing growth, streamlining and enhancing the implementation process for Software companies, and investing in the continual innovation, stability and security of the Product.
Singapore's GIC and Temasek join Stripe's $6.5bn fundraising. The fund will allow the payment processing giant to cover billions of dollars of tax liability faced by some of its earliest employees so they can exercise options and cash out stakes in the company that would have otherwise expired in the coming months.
Tilia announces raising $22m, strengthens leadership team. The investment will help Tilia to further scale its platform and address the growing market need for trusted, dynamic payments in online games, creator platforms, social commerce and other digital social worlds.?
Walmart pumps $200 million in Indian fintech PhonePe in ongoing fundraise. PhonePe said it plans to deploy these funds to build and scale new businesses including insurance, wealth management and lending.
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Marcel van Oost
Fintech | Product | P&L
1 年Thanks for sharing. Nice finds on BNPL concerns and regulation (much needed for consumers) and Open Finance
I help startup founders be investment ready. Newsletter and courses about the process??
1 年Thanks for sharing Marcel!
Tech Director @ Amazon Payment Services | #1 LinkedIn Arab World Creator in Management & Leadership | Follow me for Daily Insights on Leadership, Management and Career | Mentor
1 年Thank you on updates Marcel van Oost great read!
Your Channel Partner Game remains an enigmatic maze to most, a labyrinth of missed opportunities and misunderstood dynamics. When will You do something about it?
1 年Marcel van Oost, great insights.Thank you for sharing. If you are an Investor or want to start Investing seriously, you might want to look at Keiretsu at https://bit.ly/2Zful6i, one of the largest Angel Investors networks in the World, recognized by Pitchbook.
Live-in Carer @ Self-employed | Human Biology degree
1 年Very informative thanks ??