Dec 7, 2020

WEF Fintech Market Assessment Study, Fintech’s Novel Bank Charter, How Ping an Became a Fintech Super-App

Issue #84 — View online — Suggest a link

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.

Hey fintechers!

This week we take look at the World Economic Forum’s Global COVID-19 Fintech Market Rapid Assessment Study, a great in-depth 125 pages long analysis that is free to download, a new fintech’s novel bank charter application drawing industry’s ire, how Ping An became a fintech super-app, 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

Global COVID-19 Fintech Market Rapid Assessment Study

The World Economic Forum’s Global COVID-19 Fintech Market Rapid Assessment Study has gathered empirical data from 1,385 fintech firms that are currently operating in 169 jurisdictions globally with the aim of helping to understand: the impact of the global pandemic on the fintech markets, the response of the fintech industry to the challenges of COVID-19, the most pressing fintech regulatory and policy issues.

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A Fintech’s Novel Bank Charter Application Draws Industry’s Ire

Figure Technologies would only accept uninsured deposits, so it would not be subject to Fed or FDIC oversight. A major concern for banks is that the effort could open the door to incursions by bigger tech companies.

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How Ping An, an Insurer, Became a Fintech Super-App

Could others follow the Chinese firm’s lead?

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Funding, Merger & Acquisitions

Primer Raises £14m in Series A Funding

Primer, the UK fintech that wants to help merchants consolidate their payments stack and easily support new payment methods in the future, has raised £14 million in Series A funding.

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Enel X Agrees To Buy CityPoste Payment To Boost Fintech Business

Italy’s biggest utility Enel has agreed to buy fintech company CityPoste Payment (CPP) from Mail Express Group to strengthen its position in the digital payments market.

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London-Based Weavr Raises €3.3m To Bring Embedded Banking To the Services Sector

weavr is an embedded banking provider that enables businesses to integrate financial services into their products. It claims that business of all sizes and industries, use its solution to issue and accept payments and to move money around the world.

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Amount Raised $81m from Goldman Sachs and Others

Amount, a new service that helps traditional banks compete in a digital world, has raised $81 million as it looks to help legacy fintech players compete with their more nimble digital counterparts.

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Something More for You to Read

Adam Nash

@adamnash

4/ We believe that there is a lot more to do in consumer fintech, and that software can help bring purpose to our financial lives. https://t.co/nJdi8BhPk3

11:12 PM - 1 Dec 2020

Libra Cryptocurrency Project Changes Name To Diem To Distance Itself From Facebook

The Facebook-backed Libra cryptocurrency is changing its name to Diem. The organization has been held up in part by concerns over its ties to Facebook, and the name change is meant to reflect its “organizational independence.”

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S&P Dow Jones Indices To Launch Cryptocurrency Indexes in 2021

S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, said on Thursday that it will launch cryptocurrency indices in 2021, making it the latest major finance company to enter the nascent asset class.

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Understanding the Limits of Fintech in Financial Inclusion

Let’s better undertsand the drivers of financial stress so that we can address them: even if it means through non-financial solutions.

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Techstars Startup Digest Fintech is curated by:

Alessandro Ravanetti - Fintech 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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