Issue 277 · Jul 30, 2020 Weekly edition · 3 min read

Fintech News

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Fintechs face pressure to grow up as coronavirus casts a chill

Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up.

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In this issue · 11 items

FINANCE JPMorgan Chase partners with fintech start-up Marqeta to launch ‘virtual’ credit cards CNBC — Instead of receiving a plastic version in the mail, JPMorgan Chase commercial cardholders will be able to spend immediately in mobile wallets such as Apple Pay, or Samsung Pay. Open story ↗ Banking as a force for good in navigating the COVID-driven credit crisis World Economic Forum — The COVID-19 pandemic has sent shockwaves rippling through the global economy, threatening the progress that the Banking & Capital Markets Industry (BCM) had made in regaining consumer trust and improving society’s perception of the industry after the Global Financial Crisis and subsequent Great Recession. Open story ↗ First Mover: Crypto Traders ‘Greedy’ as Goldman Warns on Dollar Coindesk — During a turbulent year when cryptocurrencies have outperformed just about every other major investment category, traders in digital-asset markets are getting even greedier. Open story ↗ UK fintech funding declined for the first half of 2020 by 39% compared with 2019 Business Insider — UK fintech funding declined for the first half of 2020 by 39% compared with the same period in 2019, according to Innovate Finance. UK fintechs raised $3 billion in H1 2019, but that dropped to $1.84 billion in H1 2020. Open story ↗ The Importance Of Humans In Fintech Forbes — Fintech startups are revolutionizing old industries with new technology. But the most successful brands in this category are and will continue to be those that recognize the importance of human-powered service. Open story ↗ When the banks closed, no-one cared Chris Skinner's Blog — For several months this year, banks across Hubei province, an area home to 60 million people, shut their doors to retail customers. Most people in the region did not notice. Open story ↗ Fintech unicorn TransferWise sees valuation climb to $5 billion CNBC — Fintech start-up TransferWise is now valued at $5 billion following a secondary share sale, the company announced Wednesday, highlighting increased investor appetite for online payments amid the coronavirus pandemic. Open story ↗ Fintech is dead, long live Fintech Finextra — The word Fintech (short for "Financial Technology") was first recorded in the 1980’s in the Sunday Times. However it was only until the financial crisis of 2007-2008, that the usage of the term became more widespread. Open story ↗ Sowing the seeds for the next stage of fintech success City A.M. — In 2010 it accounted for just four per cent of venture capital investment in the UK. A decade later, this figure has risen to 28 per cent, with a record $4.9bn of capital investment landing in the UK in 2019 — a year-on-year increase of more than a third. Open story ↗ The Great Reset requires FinTechs – and FinTechs require a common approach to cybersecurity World Economic Forum — The COVID-19 pandemic highlights the need to reduce the world’s reliance on central points in the financial system – facilitating value creation everywhere and supporting trade from periphery to periphery, not just from hub to hub. Open story ↗ Crypto Long & Short: Where Fintech Ends and Crypto Begins Coindesk — An interesting op-ed by Leah Callon-Butler in CoinDesk this week got me to change my mind about something pretty fundamental. Open story ↗

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Fintechs face pressure to grow up as coronavirus casts a chill

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