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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.

To join our newsletter community please subscribe here.

Europe Fintech News Roundup

·Aug. 25, 2017

Early-Stage Fintech Financing in the UK and Germany

CB Insights reports on two of Europe's top markets for fintech investment, the UK and Germany; the UK is reporting significant early-stage investment in personal banking platforms and insurtech with insurtech also a top investment in Germany; year-to-date, European fintech companies have raised approximately $2.6 billion with early stage fintech financing in the UK at $202 million and Germany reporting financing of $83 million. Source

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Europe News Roundup Online Lending

·Aug. 25, 2017

Recent Developments for Concern in Marketplace Lending

AltFi reports on recent developments affecting the marketplace lending industry; discusses challenges at RateSetter and platform changes at Zopa and Funding Circle; also notes that UK regulators may be seeking increased transparency through new regulations; argues against criticism that platforms are struggling for borrowers and shows origination volume growth since 2005. Source

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Asia/Pac Fintech News Roundup

·Aug. 25, 2017

China Life and Baidu Partner to Launch $1bn Fund

The new private equity fund will invest in internet and other technology investments including artificial intelligence and internet finance; China Life will contribute up to 5.6 billion yuan ($840 million) and Baidu will contribute up to 1.4 billion yuan ($210 million); investments will focus on middle to late stage financing and according to Reuters will have a "significant association" with China. Source

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Asia/Pac News Roundup Online Lending

·Aug. 25, 2017

China’s Banking Regulator Releases New Rules on Online Lenders’ Disclosure Requirements

The China Banking Regulatory Commission has released new rules on disclosure requirements for online lenders; new rules additionally require online lenders to disclose the information of "compensation", which is the money that third parties pay for the loans that cannot be paid back by borrowers; stricter rules in terms of information disclosure will help investors to know the operational conditions of online lenders better. Source (Chinese)

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Asia/Pac Fintech News Roundup

·Aug. 25, 2017

Is There a Difference Between Techfin and Fintech?

In 2015 JD Finance recommended using the term "fintech" and in December of 2016 Jack Ma, founder of Alibaba, coined "techfin"; the use of techfin showed Ant Financial's focus on building technology instead of products; the article explores whether the two concepts of fintech and techfin are actually different and the business models of JD Finance and Ant Financial. Source

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Fintech News Roundup North America

·Aug. 25, 2017

Canadian Regulators Release Statement on ICOs

Canadian securities regulators released what they call a staff notice on "cryptocurrency offerings"; Coindesk reports on the notice, "With the offerings that we have reviewed to date, we have in many instances found that the coins/tokens in question constitute securities for the purposes of securities laws, including because they are investment contracts."; this has now become a trend in the market as the US SEC released a report and Chinese regulators released a statement about how they view this emerging capital raising method; the statement also covers companies looking to set up funds and encourages a regulatory sandbox to be created. Source

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Asia/Pac Fintech News Roundup

·Aug. 25, 2017

Dubai Looks to Challenge for Capital of Fintech

Dubai is quickly becoming a destination for fintech companies as the country has seen a surge in startups the last three years; according to Arif Amiri, CEO of Dubai International Financial Centre Authority (DIFCA), the country hosts 1,715 companies and banking assets have risen from $50 billion to $150 billion; financial services contributes 12% to gross domestic product, by 2024 that number is set to increase to 18%; Gareth Lewis, CEO and co-founder of Delio, which helps firms getting investment, told CNBC Thursday, "there's a fantastic opportunity in the Dubai region purely around the appetite for private investment." Source

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Asia/Pac Fintech News Roundup

·Aug. 25, 2017

Indian Central Bank on Track for Harmonizing Regulations for Non-Banking Financial Companies

The deputy governor of the Reserve Bank of India recently said at an event that currently there are different regulations for various categories of non-banking financial companies (NBFCs) which could lead to regulatory arbitrage, and that the central bank is moving in the direction of harmonizing some of the regulations, and they will get clarity on this sooner than later. Source

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Fintech News Roundup USA

·Aug. 24, 2017

Investing Platform Focused on Female Investors Raises $32mn

Sallie Krawcheck previously worked as a Wall Street executive but has since founded Ellevest; the company offers a digital investing platform helping female investors access low-cost ETFs based on goals; Venus Williams, a professional tennis player, is among investors in the company; according to Krawcheck, women are less concerned with beating the market and focus rather on ensuring their money won't disappear completely; the platform also considers the longer lifespans of women and the possibility of extended time off from work; Business Insider provides screenshots of setting up an account; the app is not yet in the app store. Source

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Fintech News Roundup USA

·Aug. 24, 2017

Exploring the Potential of a Robo-Advisor IPO

Financial Planning explores the possibility of an IPO from the leaders in the robo-advice market including Betterment, Wealthfront and Personal Capital; the companies continue to raise money but some question the viability of the market; Betterment has over $10 billion in assets under management, Wealthfront has $7.4 billion and Personal Capital has $4.9 billion; the companies have a combined 420,000 clients and 548,000 accounts; article shares statements by each company regarding IPOs and the differences between the platforms. Source

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