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Banks Rolls Out Robots, Top Angel Investors in EU, The Dark Side of Fintech Borrowing

Hi fintech friends, This week we are looking into banks rolling out robots to face the spike in loan
Issue #79  •  November 2  •  View online  •  Suggest a link
Fintech
Fintech
Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hi fintech friends,
This week we are looking into banks rolling out robots to face the spike in loan requests, a list of the top fintech angel investors in Europe, the dark side of fintech borrowing with a research by professor Marco di Maggio of Harvard Business School, plus much more.
As always, if you like this newsletter, remember to share the love and tell your fellow fintech enthusiast friends to sign up here!
One more thing before letting you dive into this week reading: this year as well I decided to join SXSW as an advisory board member. SXSW Pitch, which is the competition dedicated to startups, will take place on March 17th and 18th and it’s a great opportunity to showcase your emerging technology product or service in front of industry leaders. 
Of the 553 companies who participated between 2009 and 2019, over 80% received investments, with combined funding in excess of almost $7.6 billion. And with 18% of these companies that have been acquired by the likes of Google, British Telecom, Huffington Post, Apple and Live Nation. The deadline to apply is January 8th at 11:59 pm PST. Check this link if interested to learn more.
Until next week, take care!

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This Week in Fintech
When banks were flooded with loan requests from businesses struggling with the fallout of the coronavirus pandemic, hastily built robots helped several lenders cope with the deluge.

A list of the top fintech angels investing in Europe, including TransferWise’s Taavet Hinrikus and Baroness Denise KIngsmill.
sifted.eu   •   Share

Fintechs have revolutionized the banking industry, but some customers end up worse for the experience, according to research by Marco Di Maggio and colleagues.
hbswk.hbs.edu   •   Share

Funding, Merger & Acquisitions
Klar, a new online bank based in Mexico City, has become the first big bet that Prosus Ventures (the firm formerly known as Naspers Ventures) is taking in Latin America outside of Brazil.
techcrunch.com   •   Share

It’s only been a few months since Lili announced its $10 million seed round, and it’s already raised more funding — namely, a $15 million Series A. The startup, founded by CEO Lilac Bar David and CTO Liran Zelkha, is creating a bank account and associated products designed for freelancers, with features like early access to direct deposit payments and the ability to set aside a percentage of income for taxes.
techcrunch.com   •   Share

Possible Finance was growing fast and ready to raise more venture capital. Then COVID-19 hit. “It immediately made fundraising much more difficult than anticipated,” said Tony Huang, CEO and co-founder of the 3-year-old startup that runs a high-tech small loan service.

U.S. firm Syncapay Inc has bought the North American unit of German payments company Wirecard AG.

UBS is to invest $200 million in fintech startups through a new venture fund that will underpin internal modernisation efforts and strengthen strategic partnerships.

Something More for You to Read
Financial technology company Social Finance Inc has received preliminary, conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) over its application for a national bank charter, the company said on Wednesday.

DBS, Singapore’s biggest bank, is launching a fiat-to-cryptocurrency exchange, The Block has learned.

The move by JPMorgan could boost the broader blockchain and cryptocurrency industries, whose proponents believe mainstream adoption is nearing.
www.cnbc.com   •   Share

Anned Boden, CEO of Starling Bank, talking about how things developed in the split with Monzo bank.

2020 has been a huge year for fintech growth and innovation. How can the industry continue to improve?
Techstars Startup Digest Fintech is curated by:
Alessandro Ravanetti Alessandro Ravanetti - Freelance content writer and copywriter. Working in the fintech industry since 2011, I built and managed digital companies with distributed teams and international partners, gaining experience with both startups and large corporations. I am an independent expert with the European Commission, FundingBox and the Eureka Network, and an advisory board member of SXSW.
alessandro.ravanetti@startupdigestmail.com
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