Fintech News Issue #278 August 6th, 2020
Top Stories
Last week, neobank Varo announced that it had been granted a national bank charter by the OCC, with additional approval from the FDIC and Federal Reserve to open its own retail bank.
Google is teaming up with six more banks to support its digital banking efforts
— via Business InsiderWhile Google and its partners should benefit from the collaboration, a successful move by Google into banking could spell disaster for US neobanks.
Fintech Scales Vertical SaaS
— via a16zToday, about 90% of public SaaS companies and the 2019 Forbes Cloud 100 have subscription-based revenue models. Now new fintech infrastructure companies have made it possible for SaaS businesses to add financial services alongside their core software product.
FinTech Articles
Two Reasons Crypto’s Bull Market Is Coming
— via CoindeskAnil Lulla is the co-founder and COO of Delphi Digital, a research firm dedicated to advancing the development of the crypto market.
BankThink Banks, fintechs must reframe data privacy debate
— via American BankerFinancial services innovators are at risk of losing access to data that’s critical to their businesses if Congress passes a proposed data privacy bill or one of several like it.
N26 vs. Revolut: The battle of the challenger banks
— via EU-StartupsDubbed as “challenger banks” not that long ago, the digital banks N26 and Revolut have acquired over 15 million registered users (10 million for Revolut and 5.5 million for N26) as of the first quarter of this year, putting both on a hyper-growth track.
Could Digital Currencies Make Being Poor Less Costly?
— via Havard Business ReviewBy definition, blockchain technology cuts out middlemen. In relying on networks of users and collective trust, it reduces the need for centralized networks and data storage.
Women Are Leading Latin America’s Fintech Revolution
— via Yahoo FinanceFinance services is an industry that has been particularly male-dominated, with women holding less than 10 percent of senior positions.
How Fintech can help the Healthcare Industry
— via FinextraFintech has been a major factor on the financial market for a while now, and it’s becoming quite hard to ignore its presence and wide sweeping effects.
'Smartbank' Sync. raises £5.5 million seed round
— via FinextraSync., a multicurrency bank account aggregation and personal financial management service founded by Revolut's former head of product design and strategy, has closed a £5.5 million seed round as it prepares to launch in Europe.
Mangot recently joined the online payments giant as operating partner of PayPal Ventures, according to people with knowledge of the move.
PayThink Better data is key to beating bias in small-business lending
— via Payments SourceAfter nearly a decade of business ownership gains for both women and identifiable minority business owners, the recession following COVID-19’s arrival is set to devastate that growth.
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