Making sense of the current FinTech market – what led us here?
A Terrific Tuesday, FinTech Fanatics!
Maybe you are already back at the office or working remotely, but I hope you all had some wonderful days off, just like me; days packed with good company, food, drinks, and conversations.
Now it’s back to business again, although things are slowing down a bit on the newsfront as we are heading toward the end of 2022.
A perfect moment to recommend a podcast, worthwhile listening to in one of those ‘lost moments’ between Christmas and New Year’s Eve.
In his latest podcast, Miguel Armaza headed down to sunny Miami for a conversation with Steve McLaughlin, Founder of investment bank FT Partners, to discuss the current FinTech market.
So if you have some spare time, grab a comfortable seat and some leftovers from the Christmas pudding and listen to this 30 minute episode.
Enjoy the rest of your day and here is the rest of the news I listed for you today:
BREAKING NEWS
Revolut’s results delayed until early 2023. The company’s long-awaited 2021 accounts have been finalised, however, the FinTech will miss its 31 December deadline to publish them. Link here
NEWS HIGHLIGHT
In this article, Klarna Kosma analyzes the recent changes made to the regulatory technical standards on strong customer authentication and secure communication (SCA-RTS) in the EU, and explains how they will benefit consumers and providers. Read here
Bankman-Fried to be released on $250M bail. Under the bail conditions, Bankman-Fried will be under home detention and location monitoring and will be forced to hand over his passport. Link here
INSIGHTS
Why the game is up on irresponsible credit? Martin Magnone, CEO of Tymit shares his thoughts on the uses of BNPL. Read the full article here
Read this article by Timothy Motte, where he analyzes why super apps look very different depending on where they're from. Link here
See all of this week’s FinTech deal activity in Financial Technology Partners / FT Partners overviews: 28 Financing and 11 M&A transactions. Link here
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FINTECH NEWS
Philippines SEC to accept only digital payments after February 2023. This move is in line with the mandated zero face-to-face transaction policy as well as the automation of business-related transactions. Link here
Uome FinTech App launches open banking and subscription feature which allows its self-employed users to receive instant bank payments due to the integration of open banking. Link here
DIGITAL BANKING NEWS
HSBC Bank launches a wealth management centre in Taipei. This new expansion aims to address the needs of its clients, offering them strategies that use financial products and services. Link here
BLOCKCHAIN
U.S. SEC calls FTT Exchange Token a Security. The complaint against Alameda's Caroline Ellison and FTX's Gary Wang contains allegations that FTX's exchange token, FTT, constitutes an investment contract. Link here
PARTNERSHIPS
Phos teams up with Diebold Nixdorf to deliver SoftPoS solutions. The new functionality will enable retailers to expand their number of payment acceptance points without the traditional expense of payment hardware.. Link here?
M&As
GoLogiq and GammaRey combine forces in a $320m merger. The combined company would initially focus on the high-growth wealth management market for Generation Z and Millennials. Link here
Circular economy FinTech Twig buys teen banking firm Vybe. The company aims to continue expanding its reach and make an impact on the Gen Z market. Link here
Monoful Venture Partners, a Japan-focused VC arm of industrial giant GLP, reaches a first closing of its maiden fund with $96 million in commitments. GLP said MVP would be invested in five portfolio companies by the end of 2022. Link here
Recognise Bank lands ￡25m for lending push. The new investment aims to help Recognise Bank scale its SME loan book. Link here
MOVERS AND SHAKERS
Coastal Community Bank hires Barb MacLean as senior vice president, head of technology operations and implementation.? Link here
This ends Your Daily FinTech News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost
Connecting CTO and Talent Pros with Elite devs in your same time zone - because nobody likes 3 AM conference calls
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