Issue 235 · Sep 19, 2019 Weekly edition · 3 min read

Fintech News

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TransferWise, the $3.5 billion fintech firm backed by Peter Thiel, posts its third year of profit

Financial technology firm TransferWise booked a profit for the third year in a row, a rare show of growth for an industry littered with start-ups that have struggled to break even.

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In this issue · 12 items

Yahoo Finance All Markets Summit: Generational Opportunities October 10, 2019, New York City The seventh installment of the All Markets Summit franchise will explore what divides and unites generations in the workplace and across politics, and how collaboration across generations can change business. Speakers include financial luminaries Adena Friedman of Nasdaq, Jes Staley of Barclays, Citigroup Vice Chairman Ray McGuire, CFTC Chairman Heath Tarbert, along with business leaders like Robert Falzon, Prudential's Vice Chairman, Bernard Tyson of Kaiser Permanente, Minneapolis Fed President & CEO Neel Kashkari, and Google Ventures Partner Joe Kraus. Open story ↗ Wall Street banks are upping bets on their potential fintech competitors CNBC — The biggest banks on Wall Street are increasingly betting on their potential competition. Open story ↗ Technology Is Banks’ New Battleground The Wall Street Journal — European banks are playing catch up with their American rivals in tech spending, particularly in cutting-edge areas like artificial intelligence Open story ↗ Visa and Mastercard Sign Up for Investments in Fintech Unicorn Plaid Fortune.com — As two competing giants occupying the same realm of credit cards and electronic payments, it’s not often that Visa and Mastercard both decide to bet on the same company as a means of expanding their businesses. Open story ↗ Everyday fintech use cases for A.I. Fintech Circle — Artificial Intelligence is becoming more commonly used in a variety of fintech applications. Open story ↗ Banking technology start-up GoCardless expands to America The Telegraph — British payments technology start-up GoCardless has launched its online direct debit service in the US and will open a new office in San Francisco. Open story ↗ Where banking-fintech partnerships fall short American Banker — Today’s banks are about as familiar with new business models as Blockbuster was before Netflix emerged, which sheds light on potential economic parallels as fintechs begin partnering with banks. Open story ↗ Maturing Fintech Firms Use Enhanced Data To Threaten Legacy Banks The Financial Brand — Most financial institutions continue to play 'catch up' as smaller financial technology providers expand services for retail and small business customers. Open story ↗ FinTech is revolutionising America, the impact on Africa will be 6 times bigger The New Times — Every once in a while, the field of innovation and entrepreneurship sees a new trend taking the lead, influencing the market and dominating the headlines. Open story ↗ The two big issues bank CEOs have with FinTech The Finanser — For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us. Open story ↗ What Are The Newest Trends In The Fintech Startup Space? Forbes — What are some new and exciting trends in the fintech startup space? Open story ↗ Fintech’s Second Wave: Lenders in Disguise a16z.com — In 2006, LendingClub introduced a then-novel business model: the ability to offer online personal loans to millions of underserved customers. Open story ↗

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TransferWise, the $3.5 billion fintech firm backed by Peter Thiel, posts its third year of profit

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