Dec 14, 2020

How the Traditional Bank Is Being Disrupted, China Regulator Puts Country's Fintech Giants on Notice, Tink €680m Valuation.

Issue #85 — View online — Suggest a link

Fintech

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Hello fintechers!

This week we look at at the unbundling of Bank of America, discovering how the traditional bank is being disrupted, at China’s top banking regulator hinting for more regulations, at Sweden’s fintech Tink new €680 million valuation and at Facebook facing lawsuit over crypto project’s new name, 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.

Happy reading,

Alessandro

This Week in Fintech

Unbundling Bank of America: How the Traditional Bank Is Being Disrupted

From mortgages to robo-advisors to trading software, here’s how fintech companies are unbundling Bank of America’s front office.

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China Regulator Puts Country's Fintech Giants on Notice Hinting at More Rules

China’s top banking regulator hinted at “timely and targeted measures to prevent new systemic risks,” in a nod toward further regulation on tech giants.

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Funding, Merger & Acquisitions

Tink Raises $103m as Its Open Banking Platform Grows To 3,400 Banks and 250m Customers

Tink, a startup out of Stockholm, Sweden that aggregates a number of banks and financial services by way of an API so that those can in turn be accessed via new channels, has raised €85m, at a post-money valuation of €680m.

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This Baas Fintech Helping Businesses Embed Payments Tech Into Their Apps Just Raised a $27m Series A

Moov’s open-source technology helps companies embed financial transactions directly into their apps.

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Kids' Bank Account App Gohenry Raises $40m

Children’s bank account app gohenry said on Tuesday it had raised $40 million to fund expansion in its home market of Britain and in the United States.

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Cleo, the AI-Powered ‘Financial Assistant’, Raises $44m Series B Led by EQT Ventures

Cleo, the London-founded “financial assistant” that takes the form of an app and chatbot and now counts the U.S. as its largest market, has raised $44 million in Series B funding.

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Something More for You to Read

Facebook Faces Lawsuit Over Crypto Project's New Name

Facebook could be in hot legal water after rebranding its upcoming crypto project to Diem — a name already taken by a London fintech.

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Europe's Unexpected New Fintech Investor: Checkout.com

$5.5bn payments startup Checkout.com has followed Californian payments-giant Stripe in quietly launching its own venture division.

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Fintech, Regtech and the Role of Compliance 2021

The year 2020 has been a year of digital transformation and acceleration to meet the challenges of the COVID-19 pandemic. By necessity and by design firms have implemented the roll-out of technology, often at speed, to enable business activities to continue as countries…

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Fintech Firm Revolut Takes Aim at Stripe With Payment Software for Businesses

A move into payment processing software would put Revolut up against U.S. firm Stripe, Dutch competitor Adyen and British peer Checkout.com.

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Saving the City: London's Finance District Plots Reboot as COVID Compounds Brexit

For fintech entrepreneur Lewis Liu, no other city on earth could compare to London.

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Techstars Startup Digest Fintech is curated by:

Alessandro Ravanetti - Fintech writer, copywriter & content strategist. Working in the fintech industry since 2011, previously as a founder and now as a consultant. Independent expert with the European Commission and SXSW advisory board member.
alessandro.ravanetti@startupdigestmail.com

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