Global FinTech | 2022 #44
Weekly news up to Tuesday, November 1st, 2022
Q&A with Arjun Vir Singh
Today I have an interesting Q&A to share with you. Meet Arjun Vir Singh. One of the leading LinkedIn voices for the Gulf Region, he’s an avid commentator of the FinTech scene and a Partner with Arthur D. Little (ADL) based in Dubai, UAE 👇
👀 NEWS HIGHLIGHT
Krea and Klarna said that their partnership has helped small and medium-sized enterprises (SMEs) in that country receive larger loan offers at lower interest rates.
The release says the partnership has helped businesses receive on average 15% larger loan offers, at a 4% lower interest rate.“Using Klarna Kosma SMEs can quickly and securely provide transaction-level data directly from their business bank account to the Krea platform,” the release said.
👉 Read the full Pymnts article here.
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📰 ARTICLE
Jumio helps businesses stay ahead of fast-evolving threat landscape with dramatically enhanced KYX platform.
👉 Read the full article here.
💡INSIGHTS
European A2A schemes thriving, not yet open banking payments.
👉 Read the full Flagship advisory partners article by Joel Van Arsdale, Anupam Majumdar, and Maxim van Hoorn here.
🎤 PODCAST
Miguel Armaza sits down with Hristo Borisov, CEO and Co-Founder of Payhawk, the first ever Bulgarian unicorn! 👇
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️Mercuryo expands crypto asset offering through Fireblocks integration. Link here.
⭐️ Funding for Portuguese fintechs has exceeded the €1bn mark for the first time. Link here.
⭐️ Apple will start to offer health insurance in 2024 as it looks to build on the health data it has acquired from the Apple Watch. Link here.
⭐️ Juni announced that it has secured its Electronic Money Institution (EMI) license from Swedish regulator Finansinspektionen. Link here.
⭐️ MTN announced that its Nigerian operation has added 5.7 million new susbcribers in nine months ended 30 September 2022. Link here.
⭐️ Last week, €195m was raised across 14 European FinTech deals. Link here.
⭐️ Deel and WeWork strike partnership. Link here.
PAYMENTS
Finexio closes $35 million series B funding round. Link here.
Privat 3 Money launched a bespoke mobile trading platform, becoming only the second digital financial institution in the UK, after Revolut, to offer this facility to eligible clients. Link here.
Visa announced plans to open a state-of-the art Innovation Center in Riyadh, Saudi Arabia at the Future Investment Initiative. Link here.
Payment Systems Regulator says merchants may have to wait a further two years before it concludes its market reviews into Mastercard and Visa card fees. Link here.
Western Union and NymCard announced that they have signed a partnership. Link here.
Finaro announced a new strategic partnership with EveryPay. Link here.
BNPL
Tymit raises £23m from Sports Direct founder Mike Ashley’s Frasers Group for BNPL pivot. Link here.
OPEN BANKING
Tink teamed up with Sambla Group to offer the lenders in its network access to more accurate affordability assessments. Link here.
Curve chooses Salt Edge as a partner for open banking compliance. Link here.
TrueLayer's open banking technology will make it easier and faster for Strikepay's clients to get paid. Link here.
CRYPTO
The appointment of Rishi Sunak as Prime Minister is good news for cryptocurrency adoption and FinTech in general, the industry believes. Link here.
Mastercard and BitOasis sign strategic partnership across MENA to launch crypto-linked cards. Link here.
Q9 Capital gets Dubai provisional approval VARA. Link here.
Visa filed two trademark applications to the United States Patent and Trademark Office (USPTO) related to digital wallets, non-fungible tokens and the metaverse. Link here.
Gemini launched in Denmark, Sweden, Portugal, Czechia, Latvia, and Liechtenstein. Link here.
BLOCKCHAIN / DEFI
Blockchain.com announced the debut of its highly anticipated Blockchain.com Visa® Card, with 50,000 waitlist sign-ups already at launch. Link here.
INVESTMENT
PrimaryBid launches pan-European connect platform. Link here.
EToro acquires portfolio management provider Bullsheet. Link here.
FRAUD PREVENTION
SimpliFi and IDWise® partner to offer SimpliFi’s customers a truly AI-based next-gen and hyper-localized identity verification and e-KYC solution. Link here.
MOVERS & SHAKERS
Global Processing Services appointed Kim Ohlrogge as the firm’s new chief product officer (CPO). Link here.