Daily Fintech Newsletter | Apr. 20th
Hi!
In case you missed it, please see below today's most relevant fintech news.
A study of 2,000 global consumers released by Mambu, a banking and financial services platform, revealed that a significant misunderstanding of open banking is hampering its adoption. Open banking has witnessed an increase in adoption globally as a result of the Covid-19 pandemic, and the research indicates a marked change in attitude and priorities as a result of the crisis. However, existing concerns remain with 48 percent of consumers claiming they are ‘scared’ to use open banking and 53 percent still believing that open banking is a dangerous use of data sharing. Key Takeaway: demonstrating the opportunity for open banking, the survey revealed that 57 percent said they would be more likely to use it if their bank had more successfully implemented and promoted it. Read more here.
Before 2020, I used to travel around 50% of the time to all kinds of events and meet people in person all over the globe. I attended several FinTech events and had a great time networking. I'll still refer to 2020 as a "Virtual Year" when I reflect on it. Sometimes I find myself really missing the hustle and bustle of physical events and the kind of networking that only a face-to-face meeting can provide. Read more here.
Zilch, a London startup that has built an “over the top” buy now, pay later (BNPL) business out of cutting deals directly with consumers — bypassing the need for integrating anything new into an e-commerce site’s check-out process, as many of the leading providers have done — has raised $80 million, an all-equity Series B that values the company at over $500 million. Link here.
Level, a startup that aims to give companies a more flexible way to offer benefits to employees, has raised $27 million in a Series A funding round led by Khosla Ventures and Lightspeed Venture Partners. Link here.
Nuvei Corporation, the global payment technology partner of thriving brands, announced it has entered into a definitive agreement to acquire MazoomaTechnical Services Inc., a U.S. focused gaming and sports wagering payment technology provider for approximately $56 million-plus additional consideration subject to the achievement of specific performance criteria (over a maximum 3-year period from the closing date) of up to a total maximum consideration of approximately $315 million. Link here.
Credit monitoring and building platform Credit Karma has picked Bud's Open Banking stack to help its UK members find better financial products and make smart money decisions. Link here.
This ends my Daily Fintech Newsletter. Let me know if there are any questions or news/insights worth mentioning in the next newsletter. Until the next!
Regards,
Marcel van Oost
marcelvanoost.com
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