Global FinTech | 2022 #21
Weekly news up to Tuesday, May 24th, 2022
THIS WEEK’S FUNDING NEWS OVERVIEW
REPORT
ComplyAdvantage has published a new anti-money laundering guide designed for growing crypto firms.
This guide is designed to serve as a practical, hands-on resource for financial compliance professionals working in the crypto industry. It covers the essentials of building and scaling a crypto AML program, how to navigate regulatory change, and the emerging use cases — and threats — compliance teams should look out for.
👉 Download the document through the link here.
📊 INFOGRAPHIC
FinTech is a major growth market across the world, but one that is not growing in the same way everywhere.
More than half of global digital payment transaction value is tied to Asia in 2022, as is a whopping 94 percent of transaction value in alternative lending.
👉Read the full article here.
📰 ARTICLE
Gregoire Toussaint, Director at Edgar, Dunn & Company is highlighting some of the key trends that are analysed in a white paper to be published next month on the increasing digitalisation of B2B payments.
👉Read the full article here.
💬 INTERVIEW
The chairman of one-time market darling Zip Co says the BMPL sector needs to focus on reducing bad debt numbers and improving margin growth to win back investor confidence.
“The industry as a whole, which has seen bad debts spike, really missed that moment. And we are now going to have to dig our way out of that, says Zip chair.
👉Read the full article here.
💡INSIGHTS
Klarna faces a valuation drop to $30 billion as seeks funding.
👉Read the full Bloomberg article here.
🎤 PODCAST
The podcast recommendation of the week belongs to The Rocks in the River from the FinTech Australia Podcast.
Brian is joined by that paragon of the Fintech ecosystem Dom Pym to discuss the month’s biggest raises, the current markets, what this might mean for short and mid-term funding, and how fintechs can look to grow in a tougher market through partnerships.
Use the embedded player below to listen in👇
Or listen to the full podcast here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Calgary fintech Award launches with a $250,000 cash prize for fintech startups. Link here.
⭐️ Plaid officially expands into identity and income verification and fraud prevention. Link here.
⭐️ List of India’s 16 Fintech Unicorns. Link here.
⭐️ Sokin expands payments partnership with Mastercard across the Middle East and Africa. Link here.
PAYMENTS
The New Payments Platform’s real-time payments initiative PayTo goes live from July 1, 2022, and Aussie businesses like Cape are ready to implement it. Link here.
Meta's WhatsApp rolls out P2P payments for user contacts in India and Brazil. Link here.
Slice is launching UPI payments feature. Link here.
Zettle unit has introduced functionality that lets small businesses accept contactless payments in-person, directly on their Android devices with no additional hardware or fees. Link here.
BNPL
BNPL firms offering 'indirect credit' must now be authorized by the Central Bank of Ireland. Link here.
Klarna is set to fire 10% of its employees amid a valuation crunch at the BNPL giant. Link here. Also, Klarna hits 150 million users. Link here.
OPEN BANKING
Volt releases product that encourages shoppers to switch to open banking payments at the checkout. Link here.
B2B BNPL provider Two is embedding open banking data in its checkout with the help of Yapily. Link here.
CRYPTO
Quickbit partners with Intergiro to launch the first crypto debit card in Sweden. Link here.
Fluidcoins launches an E-commerce portal enabled for crypto payments. Link here.
Mercuryo has announced that it’s hit 3 million users worldwide. Link here.
INVESTMENT
Bitpanda doubles fractionalized stocks and ETFs to over 2,000 on share trading platform. Link here.
GoCardless announces the first Variable Recurring Payment customer, Nude, to help Brits save for their first home. Link here.
MOVERS & SHAKERS
Mangopay has brought on former PayPal director Luke Trayfoot to its executive team. Link here.
BUX welcomes today Álvaro Vidal, who will assume the role of Country Manager for Spain. Link here.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.