Daily Fintech Newsletter | Feb 2, 2021
The Dutch Central Bank (DNB) granted ibanXS a PSD2 license
Hi!
In case you missed it, please see below today's most relevant fintech news.
On 28th January 2021, the Dutch Central Bank (DNB) granted ibanXS a PSD2 license. PSD2 is the European Directive on consumer and business payments. With the introduction of PSD2, new providers of new payment and account information services will enter the market. They will act as an online third party between a consumer and their bank. These third parties may be other banks, for example, or FinTech companies. However, providers must have a PSD2 license. ibanXS is a fully operational pan-European PSD2 Open Banking platform with connections to more than 1.500 European banks in 22 countries. This new license makes ibanXS a licensed Account Information and Payment Initiation Service Provider. Link here.
The pairing of Open Banking with smart data insights provides companies with an incredibly flexible tool kit for solving business problems. This brings its own challenges. With such a flexible set of tools, it can be hard to show the concrete, discreet use-cases that really demonstrate its value. That's not the case with the way Dozens are implementing their technology. Link here.
Visa CEO Alfred F. Kelly, Jr. says the card scheme is preparing its payments network to handle a full range of cryptocurrency assets. In an earnings call with analysts, Kelly says the company will treat the cryptocurrency market as two distinct segments: traditional cryptocurrencies, such as Bitcoin and Ether; and fiat-backed digital currencies including stablecoins and central bank digital currencies. Link here.
Berlin-based insurtech startup INZMO has closed a €3.1 million seed round led by Change Ventures. Swiss insurance company Helvetia, an existing backer from the pre-seed round in 2018, also participated. Link here.
Employee benefit and reward pioneer Ben has raised $2.5m in a round led by Cherry Ventures and Seedcamp. 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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