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This Week in Fintech
EU officials approve plan to lower cross-border payments fees
The plan requires banks charge the same for Euro payments between countries in Eurozone and those that aren’t, and more bank transparency on currency conversion costs. Read more
HSBC launches PayMe service in Hong Kong
With the service, retailers can accept payments directly from consumers via an e-wallet. The bank is currently testing PayMe with 15 retailers, and by releasing its own e-wallet service, the bank places itself firmly in competition with the spaces’ titans Alipay and WeChat Pay. Read more
Apple and Goldman Sachs to link up on credit card
The card will make its possible debut in the spring, and will be linked to consumers’ iPhone wallets. The card will reportedly also have a feature that helps users manage money. Read more
US cities and states mull banning cashless stores
As mobile and cards payments become more popular, the New Jersey State Legislature and Philadelphia city council are moving to pass measures to prohibit cashless stores, arguing that cashless discriminates against the unbanked. Read more
IMF suggest cash and e-money to enable negative interest rates
IMF Economists recently said central banks could achieve negative interest rates needed to combat future recessions by splitting the monetary base into e-money and cash, and employing a negative rate on the e-money, where central banks would allow cash’s conversation rate to fall at the same rate as that of the e-money. Read more
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Funding
iwoca, a UK-based SME lender, raised GBP 150 million in a Series D round led by Augmentum Fintech.
GoCardless, a UK-bases online payments start-up, raised USD 75 million in a funding round led by Google Ventures and Adams Street Partners.
Bynk, a Sweden-based company providing a mobile loan app, raised EUR 48 million from LMK Industri.
Alan, a France-based health insurance start-up whose goal is to make healthcare more accessible, secured USD 45 million in a Series B round led by Index Ventures.
Mambu, a Germany-based company providing an Saas banking platform, secured EUR 30 million in a funding round led by Bessemer Venture Partners.
CipherTrace, a US-based blockchain and cryptocurrency security company, raised USD 15 million in a funding round led by Aspect Ventures.
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Research
Older and wiser: Is responsible investment coming of age?
By PwC
This study focuses on attitudes and actions regarding ESG factors in private equity, finding that many investors prioritise SDGs relevant to their investments, are concerned with climate risks in their portfolios, have either adopted or are creating a responsible investment policy, and are generally becoming more concerned with the connection between their industry and areas like human rights and the environment. Read more
FinTechs in Sub-Saharan Africa: An overview of market developments and investment opportunities
By PwC
The sub-Sharan market presents many opportunities for fintech investment, yet it hasn’t attracted the same attention from international investors as fintechs in Europe, Asia, and North America. Given this, this report defines the regions fintech landscape, details international fintechs in the region, what investors are doing in the region, the regulatory environment, and more. Read more
Saving woes stretch retirement outlook: Europe’s savers may fight to meet future money goals
By ING
This report is based on an international survey carried out several times a year that tries to understand how people around the world spend, save, invest, and generally feel about money. Its findings point to the fact that many people barely manage to meet their needs, mobile apps may make spending easy, but not saving, many expect to keep working in retirement and even fear retiring. The report also gives additional insights into peoples' preparation for and views on retirement. Read more
FinTech and market structures in financial services: Market developments and potential financial stability implications
By FSB
This paper looks at how fintech developments are changing, or will potentially change, the current financial system and may affect subsequent financial stability. The fintech developments in question are non-bank providers of bank-like services cooperating or competing against traditional financial institutions, bigtechs entering the financial services market, and the reliance of third party providers for cloud services. Read more
Finding the Next Unicorn: When Big Data Meets Venture Capital
By Johannes Weibl and Thomas Hess, LMU Munich
VCs traditionally screen and evaluate potential start-ups based on their personal experiences, network, and qualitative evaluations. However, this paper looks at how taking a quantitative, data-driven approach can impact the above processes and can lead to reduced operational costs in the short term and increase long-term ROI. Read more
The Pulse of Fintech 2018
KPMG
Wrapping up 2018, this report overviews what’s occurred during the year regarding fintech investments. The report looks at investments on a global level as well as in the following regions: the Americas; the US; Europe; and Asia. Read more
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