Global FinTech | 2022 #36
Weekly news up to Tuesday, September 6th, 2022
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
Africa’s FinTech industry is coming of age. In the face of political and economic challenges and a global pandemic, FinTech on the continent is booming. Here’s what comes next:
👉Download the full report by Max Floetotto, Eitan Gold CA (SA), Uzayr Jeenah, Mayowa Kuyoro, and Tunde Olanrewaju, representing views from McKinsey & Company’s Financial Services Practice here.
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📊 INFOGRAPHIC
In H1 2022, fintech was the preferred industry for startup investors in the United Arab Emirates (UAE), accounting for 34% of total capital and 22% of transactions, a new report by Magnitt and the Emirates Development Bank (EDB) shows.
👉 Read the full Fintech news Middle East article here.
📰 ARTICLE
Embedded finance is already here - what comes next?
"The time is ripe for all parties involved in financial transactions - financial institutions, businesses, and end-users - to embrace the combined benefits of embedded finance, including payments, lending, and other financial products and services," writes Pavel Livshiz, General Partner at Hetz Ventures.
👉 Read the full article here.
👨💻 BLOG
Often touting a "disruption" of the existing financial infrastructure, FinTech startups worldwide are still incredibly reliant on two of the most "traditional" financial actors you can think of.
💬 INTERVIEW
In this edition of #FintechProductDiaries, tim strebkov chatted with Aaron Rosenzweig, Product Manager at the global payments giant American Express.
👉Read this interesting "day in the life of a product manager" article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ US fintech unicorn Carta has acquired UK counterpart Capdesk. Link here.
⭐️ The Minister for Financial Services and Assistant Treasurer Hon. Stephen Jones MP launched the Digital Finance Cooperative Research Centre with more than 100 guests attending the ASX. Link here.
⭐️ Trading volume on top NFT marketplace OpenSea down 99% in USD from May peak. Link here.
⭐️Ethiopia's government has decided to open the country's banking sector to foreign investors. Link here.
⭐️Lending Works is becoming ‘Fluro’, part of a rebrand and refocus of the business on its core plan to become the leading embedded lender. Link here.
PAYMENTS
ReceiptHero announced a significant new partnership with Ingenico. Link here.
Thunes partners with Alipay+ to connect European merchants with millions of Asian consumers. Link here.
Dragonfly Financial Technologies launched as an independent company after the completion of private equity firm One Equity Partners’ acquisition of payments software provider ACI Worldwide’s corporate online banking unit. Link here.
Moneycorp launched in France as part of its rapidly expanding European business. Link here.
ING unites with CCV for a new SoftPOS app that turns mobiles into terminals. Link here.
Google tests alternative payment methods in new countries, and cryptocurrency financial institution Sygnum gets ready to open a branch in the metaverse. Link here.
Berg Watches and Curve launched a partnership together for wearable payments. Link here.
Tabby, MENA's leading payments and shopping app, expands to Egypt. Link here.
BNPL
Australian Federal Financial Services Minister Stephen Jones says BNPL will be regulated as credit/lending and must comply with lending regulations and processes. Link here.
valU and PayTabs Egypt partner with notchnco. Link here.
OPEN BANKING
Tink launches Expense Check to improve affordability analysis. Link here.
Mono has released the Mono Telco data API to businesses in Nigeria. Link here.
Viva Wallet joins the CB ecosystem. Link here.
CRYPTO
MoonPay partners with Trezor to enable customers’ direct purchase of crypto. Link here.
Single.Earth chooses LHV UK as a banking partner. Link here.
Coinmetro is introducing a groundbreaking new feature to its Swap widget. Link here.
The United Kingdom has elected a new prime minister whose past comments suggest that she is pro-crypto and blockchain technology. Link here.
FRAUD PREVENTION
Diebold Nixdorf and Hawk AI collaborate for AMLsurveillance. Link here.
FINANCIAL LITERACY
Wales has launched a new coding academy to address the skills gap in Wales. Link here.
PensionBee partnered with the money-saving app, Snoop, to help consumers take control of their finances. Link here.
MOVERS & SHAKERS
Saudi Arabia’s banking regulator appointed Mohsen AlZahrani as a new crypto chief to boost digital ambitions. Link here.
Copper appointed Tim Neill as its new chief risk officer. Link here.
Paysend appointed Wilhelm Rohde as its group chief financial officer. Link here.