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Global FinTech News - 04 Aug 2022

Global FinTech News - 04 Aug 2022
By Holland FinTech  • Issue #162 • View online
Dear reader,
This week Nancy Pelosi, the speaker of the United States House of Representatives, has arrived in Taiwan, on a visit that has enraged China which claims the self-governing island as its own territory, which risked triggering a major crisis between China and the US.
Meanwhile, South Korea joined the stampede to the moon with the launch of a lunar orbiter that will scout out future landing spots. The satellite launched by SpaceX is taking a long, roundabout path to conserve fuel and will arrive in December.
You can find information about upcoming events, new investments, research and breakthroughs within the industry. In addition, find more ways to support Ukraine here. Happy reading!
From the Holland FinTech team, we wish you a great weekend.

Connect with the fintech ecosystem at some of the upcoming events.
🔔 Sponsor Announcement 🔔
We are happy to announce that Mambu, a SaaS platform trusted by hundreds of financial powerhouses around the world, is confirmed to be our sponsor for this year’s Amsterdam Fintech Week. Mambu helps banks achieve and implement high velocity operating principles with a composable approach to technology.
As a XFW22 sponsor, you’ll benefit from invite only events such as sponsor drinks, online or self-hosted event slots, conference space marketing, social media promotion and more. For more information please visit our website or contact us directly at [email protected]
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Holland Fintech Meetup - August 12
Save the date! Our Holland FinTech Meetups allow the international Fintech ecosystem to gather together and allow for the companies of our Network to stay at the Forefront of Innovation. This months meetup will take place in Utrecht and will be focused on Explainable AI! Stay tuned for more information to be announced.
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Fintech Summer School - Holland FinTech - 19 August
Do you want to stay up to date? Join the summer school to learn about the latest developments in Fintech. We will discuss all major topics, like open finance, Crypto and NFT, the use of AI, and much more. This half-day update is meant for all people new to the industry and is a great way to meet other members.
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Highlights from last weeks news related to fintech
This week, we bring you updates and developments on partnerships, banking, crypto, open banking and more:
  • US-based TradeSun and UK-based Coriolis Technologies have partnered to launch an integrated solution for banks to measure and verify environmental, social and governance (ESG) performance across trade transactions
  • American Express is launching a new digital solution called Global Pay that will enable US businesses to make domestic and international B2B payments
  • Stock trading app Robinhood is to cut almost a quarter of its staff while its crypto arm has been fined $30 million by New York’s Department of Financial Services (DFS) for “significant anti-money laundering, cybersecurity and consumer protection violations
  • South African digital banking group Tyme Bank has announced that it will proceed with the acquisition of fintech firm Retail Capital, which provides award-winning funding services to SMEs in the country
  • Visa announced the launch of a suite of sustainability-focused solutions “Visa Eco Benefits” in Asia Pacific to help its cardholders better understand the environmental impact of their day-to-day payments
  • FinTech Automation announced that it has been selected as one of the technology partners for open banking within Mastercard’s Engage partner network
Read more about this week’s news here.
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The largest funding rounds we found from across the world
New week – new closed funding rounds! This week’s funding highlights cover credit cards, blockchain, investment, crypto and neo banks! Take a look at some major investments of this week.
  • Dubai-based paytech Tabby has secured $150 million in debt financing from Atalaya Capital Management and existing investor Partners for Growth
  • SuperAtom, a Singapore-based fintech firm, has raised US$22 million in a series C round led by Malaysian investment fund Nue3 Capital.
  • California-based FDM company Leapfin announced that it has raised $12.2 million in Series A funding led by Crosslink Capital with participation from Work-Bench and Uncorrelated, bringing the total raised to $20 Million.
  • Rewards and loyalty platform Twid raised $12 million in a Series A round led by Rakuten Capital
  • Xion Finance, which removes the manual process of investing into initial DEX offerings, has collected $50m in funding.
  • A continuous compliance automation software platform RegScale has closed its Series A round on $20m.
Read more about funding here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on financial inclusivity, insurtech, embedded finance and more. Enjoy researching!
  • “Gen-Z retail investors ‘more risk-averse’, survey claims” via (Fintech Magazine) - Generation-Z is more likely to be risk-averse with their investments than older generations, according to a new survey, dispelling the myth that younger consumers are more reckless with their money.
  • “Hyperexponential explains why actuaries should love AI” via (Fintech Global) - hyperexponential, which offers a SaaS pricing platform for insurers, has released a new report on how actuaries can do more with AI.
  • “What is the difference between advanced and qualified electronic signature?” via (Fintech Global) - As more firms digitise their operations, it is likely more confidential documents will need to be signed digitally.
  • “Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program” via (Journal of Financial Economics) - New technology promises to expand the supply of financial services to small businesses poorly served by banks.
  • “Will insurtech speed up change in UAE’s insurance sector?” via (GULF NEWS) - The insurance ecosystem is evolving rapidly, and with it, new trends are shaping the way agents and brokers engage with clients.
Read more about research here.
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Background information and insights from opinion leaders and experts
And we’re ending the week with new details on fintech regulations, crypto, e-commerce and more. Dive into the latest fintech insights and have a great start of the week!
  • “Arca’s David Nage on how regulatory scrutiny is impacting venture investment in web3’ via (TechCrunch) via The regulatory environment surrounding crypto is shifting stateside as the SEC takes aim at major players in the web3 world, promising to shake up business as usual with aggressive action.
  • "Baltic Region Embraces Online Banking and Payments as Cross Border Shopping Demands Increase” via (FinTech Times) - The pandemic-induced shift from in-store to online shopping has opened a new age in e-commerce and the Baltic region is no exception: according to Statista, e-commerce revenues in the upcoming year are expected to grow 13.66 per cent in Estonia, 14.80 per cent in Latvia, and 18.45 per cent in Lithuania
  • “The role of public-private partnerships in fighting financial crime” via (FinTech Global) - Money laundering, terrorism and financial crime are all growing threats globally that are impacting financial institutions.
  • “UK Consumers Need Better Education on BNPL and Crypto Payments” (FinTech Times) - Buy now, pay later (BNPL) as a payment method has surged in popularity but one in four UK consumers need further education on BNPL schemes, research has revealed.
  • “To build financial resilience, we need to promote savings” via (World Economic Forum) - In a given year, more than half of US households will experience an event that creates a significant expense above and beyond their normal household budget.
Read more about analysis and opinion here.
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