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Sandboxes help fintech startups raise money
Entering regulatory sandboxes helps fintech startups raise capital, boosting financial innovation, suggests a BIS working paper.In 2015, the UK’s Financial Conduct Authority created a sandbox to give startups in the fast-growing fintech sector the chance to try out their products in a controlled testing environment. Five years on, around 50 countries have followed the UK’s […]
London-based Purple Dot raises €1.49 million to disrupt the fashion industry with a new fintech approach
Purple Dot, the ‘worth-the-wait’ payment option for fashion brands, today announces its seed round of €1.49 million, led by Connect Ventures, with support from, AI Seed, Moxxie Ventures, Andy Chung and Philipp Moehring from AngelList, Vijay Pandurangan and Alex Roetter (both ex-Twitter) and the family office of Paul Forster, co-founder of Indeed.com. Founded in August […]
Fintech Startup Payer Launches Beta Test Program To Revolutionize Customer Registration In B2B E-Commerce
Payer Financial Services (Payer) has developed a new registration product that revolutionizes how customer relationships are made between companies online. The product enables e-commerce merchants to verify new customers as trustworthy so they can make their purchases with ease. Today, Payer launches a beta test program with several B2B merchants. The Swedish B2B payments startup Payer is […]
Britain’s fintech industry braces for a no-deal Brexit as transition deadline looms
LONDON — Financial technology start-ups in the U.K. are quietly rushing to get Brexit contingency plans in place as the prospect of crashing out of the European Union without a trade deal looks increasingly likely. Britain and the EU are yet to come up with a trade agreement ahead of a Dec. 31 deadline. The […]
Ant Group’s record $34bn IPO suspended
Ant Group’s record-breaking IPO has been suspended in both Hong Kong and Shanghai, just days before trading was due to open in a colossal dual listing. Chinese regulators called senior Ant executives, including controller Jack Ma, to a meeting on Monday, during which it was made clear the fintech giant would be subject to greater governmental oversight. […]
The Importance Of FinTech In Traditional Banking System
New technologies such as machine learning, Internet-of-Things, artificial intelligence, blockchains, and cloud computing are the major drivers of growth for fintech companies There is no better example of evolution than what we have seen in the financial world. From traditional in-person banking to internet banking which eventually moved from your desktop to the comforts of your palms through mobile banking. The […]
5 Reasons Why Fintech is Leading the Lending Industry
The COVID-19 pandemic has caused a wave of cyber crime across the digital finance sphere, and lenders have responded in a big way to keep clients safe. More people than ever before are trying to learn how to conduct day to day business without leaving home. Fintech solutions are allowing creditors, mortgage providers, and consumers […]
Banking, Fintech And The Second Pandemic Wave: What’s Next For 2020?
Back in May 2020, a couple of months into the coronavirus crisis, governments across the globe were scrambling to implement measures to protect their economies while maintaining public health and safety. Now, with Covid-19 casualties having surpassed the one million mark worldwide, it’s clear that the crisis is far from over. Conversely, the second wave is just […]
Hong Kong prepares for ‘next era’ of fintech
The Hong Kong Monetary Authority has outlined a slew of new initiatives on bank data exchange, CBDC research, trade finance digitisation and RegTech, as the island state kicks off its annual Fintech Week. In his opening keynote, HKMA chief executive Eddie Yue announced that the central bank is exploring a new data strategy and considering […]
Clarity AI raises $15M for sustainable investment platform
Spanish fintech Clarity AI has raised $15m to further develop its platform that analyses the societal impact of investment portfolios. Clarity AI was founded in Madrid in 2017 by Rebeca Minguela, who last month featured in our rundown of Europe’s leading women in fintech. The platform uses in-house technology to leverage big data and machine learning […]