Issue 273 · Jun 25, 2020 Weekly edition · 3 min read

Fintech News

This week at FintechWeekly: A very interesting article about the Wirecard scandal. Furthermore it is about Mastercard sliding deeper and deeper into the world of Fintechs. In the third top story this week we have a

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Wirecard AG files for insolvency

Wirecard is filing for insolvency, days after revealing a gaping €1.9 billion hole in its accounts.

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In this issue · 12 items

Mastercard Is Going Deeper Into Fintech With Deal for Finicity Barrons's — Mastercard is buying another fintech, this time scooping up Finicity in a transaction valued at nearly $1 billion. Open story ↗ London fintech Curve to power Samsung Pay Card in the UK Tech Crunch — Curve, the London fintech that is re-bundling various financial products by letting you consolidate all your bank cards into a single card and app, is partnering with Samsung in the U.K. to power its forthcoming debit card, which is scheduled to launch later this year. Open story ↗ 3 APIs That Could Revolutionize Banking Forbes — Application programming interfaces (APIs) have been around for 20 years or so, but you might not know it looking at most US-based banks. Open story ↗ Fintech Startup That Raised $100 Million From Investors Bessemer And Coatue Is Abruptly Shutting Down Forbes — By the end of last year, software startup ScaleFactor had emerged as a buzzy financial services company, raising $100 million in 12 months from big-name investors including Bessemer Venture Partners and Coatue Management. Open story ↗ Pipe Brings In $60M Seed Extension To Power SaaS Financing Platform Crunchbase News — If the company name Pipe sounds familiar, it is because you read about them just four months ago when we wrote about the startup’s $6 million seed funding, led by Craft Ventures. Open story ↗ Bitcoin ATM Growth May Be a Boon for Money Launderers Coindesk — As the number of bitcoin ATMs soars, one crypto analytics firm suggests they are increasingly being used to sidestep anti-money laundering (AML) controls. Open story ↗ Brazilian Authorities Suspend WhatsApp Payments Bloomberg — Brazil’s Central Bank and antitrust regulator suspended Facebook Inc.’s WhatsApp messenger payment features in the country, the app’s second-biggest market with more than 120 million users. Open story ↗ New York to relax cryptocurrency rules Finextra — New York's financial regulator is preparing to remove a number of regulatory hurdles impeding the development of cryptocurrency businesses in the US state. Open story ↗ Is FinTech getting it wrong? Focus on needs and wants Chris Skinner's Blog — A friend of mine, Alessandro Hatami, wrote an interesting piece on Sifted that I shared in my news yesterday. He claims that neobanks like Monzo and Starling are not reinventing banking at all. They’re just modifying and improving it. Open story ↗ European fintechs come together to launch new cross-border organisation altfi — European Fintech Association’s board currently consists of members from six leading European fintechs. Open story ↗ 5 Trends to Watch in Fintech Regulation Finance Mangnates — What will have the biggest impact? Open story ↗ Here's how Wirecard went from analyst darling to a $2.2 billion accounting scandal - and cost SoftBank hundreds of millions in the process Business Insider — Wirecard AG, a German payments processor, was once touted as a darling among analysts and investors for its growth story, which saw it go from a minor player to one of Germany's biggest companies in just over a decade. Open story ↗

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Wirecard AG files for insolvency

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