Fintech News Issue #310 April 9th, 2021
Top Stories
Thanks to pandemic-driven changes in the way people save, invest and pay, more than a dozen fintech billionaires have been minted over the past year. They’re founders of everything from stock trading apps to back-end payments technology. Here are 12 notable newcomers to the fintech billionaire ranks.
How data science is set to revolutionize the fintech landscape
— via Data QuestThe availability of massive data is driving the FinTech industry to harness the power of the hidden gems that only data analytics can deliver.
Jamie Dimon Says Competitive Threats Are Eroding Banking’s Future
— via The Financial BrandFintechs, big techs and shadow banks aren't nibbling at market share anymore, says the head of the largest U.S. bank. Some are chomping down. This will hurt the traditional players even as America recovers from the Covid economy.
FinTech Articles
JD Technology withdraws IPO application in Shanghai amid China’s fintech rule changes
— via South China Morning PostFintech company JD Technology has pulled its IPO application in China’s Nasdaq-style Star Market
Fintech Innovation and Open Banking in the Nordics
— via FinovateThis week we learned that Norway-based Finovate alum Signicat has teamed up with a German software company Cryptshare to market a new B2B identity verification solution.
Avant doubles down on digital banking with Zero Financial acquisition
— via Tech CrunchAvant, an online lender that has raised over $600 million in equity, announced today that it has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses.
The transformative power of fintech for supply chains Read more at: https://yourstory.com/2021/03/transformative-power-fintech-supply-chains
— via Your StoryIntegration of fintech in the supply chain offers a look into the future when a majority of transactions will take place in the digital realm.
Acorns’ new fintech target is debt management with acquisition of Pillar
— via Tech CrunchPopular saving and investing app Acorns has acquired Pillar, an AI-powered startup built to help manage student loan debt, in its second acquisition of 2021.
Online payments company Stripe opens its first Middle East office in Dubai, in the United Arab Emirates.
San Francisco fintech startup Plaid made waves in January 2020 when it announced it was selling to Visa. Now, with a $13 billion-plus valuation after a new funding round, founders Zach Perret and William Hockey will be glad the deal fell through.
Working in the fintech space, I'm constantly looking for good analogies to explain what banking as a service (BaaS) platforms actually do.
Overregulating fintech will harm consumers
— via Roll CallA too-heated response from Congress could undermine access to affordable financial tools
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