Issue 283 · Sep 17, 2020 Weekly edition · 3 min read

Fintech News

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Charting the COVID Effect on Fintech

Hemingway famously wrote that there are two ways to go bankrupt: gradually, then suddenly. In many ways, the impact of technology on our day-to-day financial choices has followed a similar trajectory. Fintech has been a gradual, but enormously consequential force of change in financial services over the past decade.

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In this issue · 10 items

Fintech sector faces "existential crisis" says McKinsey Finextra — The global fintech sector faces an "existential crisis", says McKinsey, as sources of funding dry up during the ongoing Covid pandemic. Open story ↗ Launching A Fintech Platform For Growing Unicorns Forbes — Data is eating the world and today it launched Team8 Fintech, a startup foundry with the mission of growing future fintech unicorns, finding new ways for data to drive financial decisions. Open story ↗ Kraken Wins Bank Charter Approval Kraken — We are thrilled to announce that the State of Wyoming has approved Kraken’s application to form the world’s first Special Purpose Depository Institution (SPDI), tentatively called Kraken Financial. Open story ↗ Market value of big fintech companies rises to $1 trillion, more than the largest banks CNBC — There may be a changing of the guard underway in financials. Open story ↗ Open banking API calls – what lies ahead? Konsentus — Will monthly open banking API calls reach 20bn by December 2022? Our data projections look at the possible scenarios over the next two years Open story ↗ 10 Reasons Why User Experience Is Sabotaged In Digital Banking Forbes — Almost every financial institution invests a lot of effort and money into experience design, as this ensures a competitive advantage in the digital age. Unfortunately, sometimes results are pitiful. Open story ↗ There’s a new wave of challenger banks looming, and profitability is on their mind Sifted — If you’ve had enough of digital banks, avert your eyes now — because there’s an entire new generation on the horizon. Open story ↗ Why Israeli fintechs are becoming a hot prize for investors — and big banks Sifted — Israel’s startup scene is best known for its pioneering — often controversial — security and artificial intelligence projects; several of which boast international governments and multi-nationals as clients. Open story ↗ UK banks sign Fintech Pledge Finextra — Some of the UK's biggest banks have signed a government-backed pledge to improve collaboration with fintech firms. Open story ↗ The Highest-Funded Fintech Startups in the World Statista — According to a recently published report by CB Insight, Grab is the highest-funded fintech startup (currently private, up-and-coming company) in the world. Open story ↗

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Charting the COVID Effect on Fintech

Finance intelligence, minus the noise.

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