New regulations in Europe are set to effect U.S. banks that serve EU based customers. Banks need to understand what data is shareable and what new protocols to put in pace before the regulations take place in May. Source.
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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A new report by CB Insights shows European banks are placing strategic bets across wealth management, lending, payments, regulatory technology and also blockchain. The data was compiled from from 2012 to Q2 2018. Source.
This week’s PeerIQ Industry Update covers earnings reports from Citi, JPM and Wells Fargo, a review of Lendit Fintech USA 2018 and the latest version of the PeerIQ Valuation Report. Source.
Nuggets has been chosen by the UK government and the Mayor of London to embark on two trade missions to China this year. The missions are a way to build new business opportunities between Britain and China. Source.
Regulators around the globe are trying to keep up with innovation happening in fintech, though the US is in danger of falling behind. Congress needs to move beyond fixing small pieces of legislation and find a better way to encourage innovation. Source.
Writing a guest post for FT Alphaville Victor Basta, managing director of boutique investment bank Magister Advisors, says 2018 will be a year of falling valuations. The drop could hurt aspiring companies looking to go public soon, though a correction in valuations could be a long term positive for the market. Source.
Stash has partnered with Green Dot to help deliver debit cards with no overdraft fees and provide access to a network of free ATMs across the U.S. The app will also help improve customers financial lives and provide advice. Source.
Mastercard filed a patent with the U.S. Patent and Trademark Office to build a product meant to safeguard identity data. The product is a semi private blockchain used to receive and store identity data like address, tax ID number and more. Source.
Goldman Sachs has acquired personal finance app Clarity Money as it continues to build out their consumer focused brand. Adam Dell, founder of Clarity Money, will become a partner at Goldman as a result of the deal. Source.
According to a report in Bloomberg online small business lender Kabbage is getting set to acquire Orchard. The companies have not yet confirmed and the cost of a potential deal is also not known. Source.