Daily Fintech Crunch: Edition 'Overload'

Dear All

Apologies for the radio silence these past few days - I have been busy launching my companion project to the Daily Crunch. A podcast called 'Couchonomics with Arjun' where i intend to interview and chat with the movers and shakers of the Fintech World in the MENA region and beyond. The initial plan is launch c24 episodes and then based on the feedback, figuring what happens next. Your support and encouragement will obviously have a key role to play so please do subscribe to the podcast

In celebration of my launch of Couchonomics, today I'm bringing to you 'Edition Overload' of the Daily Fintech Crunch with more news bites than ever before in one edition.

So get ready for being overloaded with latest updates on payments, fintech, defi, and crypto, as well as two reports that are worth checking out.

? Fintech:

• Competition in the fintech space is on the rise as MoffetNathanson’s analysts issued words of caution to industry leaders Toast and Affirm.

• Once again, fintech proves its vital role in facilitating growth for business with the launch of Fundid aimed at financing small female-run businesses .

• Wells Fargo, one of the most influential financial institutions, suggests that fintech startups’ stocks won’t stay cheap for long.

• Europe just got a major surprise with Lithuania being named the first country in the EU with close to 150 fintech startups .

• Fintech SmartHop takes a long stride in making the trucking industry more accessible and profitable to truckers with its latest round of Series B financing with $30 Million.

• Banks start to embrace fintech’s BNPL potential for convenient customer experiences with new rules and policies .

• The fintech giant Stripe’s backed payment provider Fast is set to shut down amid leaked screenshots of corruption .

• The precision financing company ArK Kapital from Sweden – a trailblazer in Machine Learning and smart financing – just received €165 million in seed funding .

• As expected, consumer behaviors continue to get reshaped by the advent of fintech, with instant gratification being the name of the game for this change.

• AI takes the banking sphere by storm as Simple, a new AI that can accurately predict loan managers’ decisions shows over 95% accuracy.

• Paying and receiving money has become easier than ever for the Dutch with over 100 million Tikkies being transferred last year alone. This number makes up for an €800 million increase to 2020’s record number.

• Fintech Scotland released a roadmap to drive UK fintech development. The first of its kind roadmap is aimed to deliver development, jobs, and financial restoration to the UK.

• This fintech company banking the cannabis industry is joining NASDAQ. This interview with Safe Harbor Financial Founder and CEO Sundie Seefried discusses Safe Harbor’s business model, going public, and consolidation in financial services for cannabis.

• The tiny fintech company DLocal is seeing amazing growth with its payments app that gives people in emerging markets access to American websites like Amazon and Uber.

?? Crypto & DeFi:

• Cryptocurrency owners are starting to panic as the deadline to pay the Capital Gains taxes approaches.

• Recent studies suggest that a third of Israeli and Emirati citizens are now owners of a cryptocurrency in one form or the other.

• Crypto is becoming more powerful in Dubai with the latest cafe to start accepting cryptocurrencies as payment for purchases.

?? Metaverse & NFTs:

• Apple joins forces with MetaMask to facilitate their user’s buying and selling of assets on the Metaverse.

• Acquiring NFTs is now as simple as grocery shopping with OpenSea launching a credit card for NFT Purchases with the help of MoonPay.

• Digital creators can now use the Visa Creator Program to receive payment for their digital businesses using NFTs.

• Despite Metaverse real estate being on the rise, we’re still far from creating seamless realities in the Metaverse as users start exploring and building their own platforms .

• CNN Business reporter Scott Galloway suggests that Web 3.0 won’t be a safe haven for users from Big Tec as previously thought.

• Snoop Dogg kept it real with the release of his ‘House I Built’: ‘It’s About Keeping It Real’ – the first Metaverse Music Video.

?? Other News:

• Elon Musk set a clash with regulatory boards following his most recent investment in Twitter with an almost 10% stake in the company.

• Online scams targeting finance have gone up 233% since the rise of COVID-19.

• The White House claims Russia is nearing a financial close as more sanctions start getting imposed.

?? Graphic of the Day:

As the table suggests, the annual global revenue from fintech companies will increase by around 35% within the next two years.

?? Reports of the Day:

• Experts suggest that the fintech market won’t just continue to grow in all spaces. Rather, it will be forced to focus on investing in solving data analysis and security problems to ensure the entire industry’s longevity. Read the full report here .

• As consumers grow more dependent on technology-based services and products, fintech continues to reshape the entire financial sector. Read the full report here .

??? Have any questions? Liked what you read? Let me know in the comments!

??? Don’t forget to like and share this post.

?? In case you haven’t heard, I’ve just released my first episode on Couchonomics. Listen to the full podcast with Roberto Croci on Couchonomics.com or any of the following podcast channels: Apple Podcasts | Spotify | Google Podcasts | Deezer .

Have a great weekend! Good night and see you on Monday

– Arjun Vir Singh aka Mr. Couchonomics