The start of something new...

Happy Sunday! 

This Sunday is a special day for me. 

I arrived in Vegas, and Money2020 is kicking off today.

Also, the many ”Happy Hours” that always come with this event for some quality networking. ?? Can’t wait to meet with my US network again!

But before I jump on the beers. I have a big announcement to make.

?? I’ve officially launched the Connecting the dots in FinTech Community platform.

I have shared much news over the years under my name. I've also been in contact with a lot of like-minded FinTech fanatics.

When I reviewed the questions and feedback I got in the past few years, I noticed something important. There's a real need to bring together this community of like-minded FinTech fanatics. There's also a need to provide more solutions for you.

Thus, I decided to launch a community platform. From it, I will offer you all kinds of services to help you build your career and network on FinTech. 

For this daily newsletter, I source the most relevant FinTech News and report, so you don't have to. But soon, I will offer more services that can add value to your career or startup. 

I have a few ideas that I’m sure you will like. But please do let me know if you have any ideas on what you like to get out of this community. I'm especially interested in learning which services you like me to provide to you. 

Join the community today, and let’s build this together!

If you are in Vegas in the upcoming days, let me know. We can make plans to try and find each other in the middle of madness in the Venetian ??.

But first, I’m off to the Raiders game!

I’m more of a hockey fan. But I will probably attend the LV Knight game tomorrow. As a sports fan, I’m really looking forward to experiencing a real US sport like football.

It’s very different from the beautiful game of football (soccer) I know from Amsterdam, but I’m sure it will be fun. 

I hope you’ll enjoy your day as much as I will, and talk to you soon!

--

In case you missed it, please see below today's most relevant news, or tune in to our Daily Fintech Podcast here. 

NEWS HIGHLIGHT

Stripe asked managers to start giving lower ratings on performance reviews. This could lead to more people being fired or feeling pressured to quit. Potential cuts, which Stripe wouldn't have to disclose as layoffs because they would be performance-based, could affect hundreds of workers. Link here

BREAKING NEWS

Sproutfi (YC S21) acquired Passfolio's client portfolio in Brazil. In the coming weeks, Passfolio will transfer all users in Brazil that have investments in the U.S. market to Sproutfi, which will provide all the necessary support for these users to continue their investment journeys within the application. Link here

INSIGHTS

Is Goldman’s fintech gamble over? Goldman Sachs’ foray into consumer fintech looks set to be spiked. CEO of Goldman David Solomon is clearly on a mission to re-focus the 150-year-old bank’s strategy as the global economy continues to sour. Link here

The South African BNPL gross merchandise value is expected to reach $5 billion by 2028. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 35.5% during 2022-2028. Link here

APAC BNPL gross merchandise value is expected to exceed US$782 billion by 2028. Medium to long term growth story of BNPL industry in Asia Pacific remains strong. BNPL payment adoption is expected to grow steadily. Link here

Singapore’s BNPL working group launched a new Code to guide service providers in Singapore and to protect consumers and ensure that BNPL offerings “will continue to benefit the ecosystem,” according to a press release. Link here

FINTECH NEWS

MoneyHash launches services across Africa. MoneyHash provides a unified checkout experience built on top of a secure super-API that aggregates payment and fintech solutions through a single integration. Link here

DIGITAL BANKING NEWS

JP Morgan adds an early direct deposit feature for its Secure Banking customers. This places it in the same camp as famous fintech platforms Chime, Square's Cash App, and Current. Link here

Chase hikes its savings interest rates in a bid to boost customer growth. Its saver account interest rate will jump from 1.5 per cent AER (1.49 per cent gross) variable to 2.1 per cent AER (2.08 per cent gross) variable. The new rate will come into effect on 24 October 2022. Link here

BLOCKCHAIN

Tribal Credit to launch blockchain-powered customer rewards program for emerging market businesses. Customers are eligible to earn industry-leading rewards on their business expenditures via Tribal’s corporate Visa? cards. Link here

PARTNERSHIPS

Cardstream integrates Nuapay to offer Open Banking capabilities. Through this partnership, Cardstream’s Open Payment Network of White Label Partners are enabled to offer to its customer Nuapay’s collection and instant Open Banking payment services in 28 EU and UK markets. Link here

Token and Computop team on open banking payments for merchants. With the partnership Computop will enables account-to-account (A2A) payments for eCommerce merchants, whitelabel partners and resellers using its Paygate platform. Link here

MOVERS AND SHAKERS

AEON’s Islamic Digital Bank to Appoint Raja Teh Maimunah as CEO. The announcement has not been made official yet. The digital bank consortium comprises AEON Credit alongside its parent company AEON Financial Service and neobank MoneyLion. Link here

Atom Bank has named Andrew Marshall as chief financial officer. He replaces Atom co-founder David McCarthy whose departure was first reported back in September. Marshall was most recently deputy CRO and director of corporate finance. Link here

AWARDS

GBST wins two IBS Intelligence NeoChallenger Bank Awards. GBST has been selected as the 2022 winners for the IBSI NeoChallenger Bank Awards in two categories, “Islamic Finance” and “Regional Winner – Australia”, for its online calculators and CMS solution developed for Hejaz Financial Services. Link here

The President of Nigeria conferred national honours. President Muhammadu Buhari, yesterday, conferred national honours on Chief Executive Officer (CEO) of Flutterwave, Olugbenga Agboola and 446 others in Abuja. The Act empowers the President to honour deserving citizens, who have contributed to the development of Nigeria in any field of endeavour. 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

marcelvanoost.com

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