Issue 288 · Oct 29, 2020 Weekly edition · 3 min read

Fintech News

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3 Ways That the Fintech Ecosystem Fell Short in 2020 & How to Move Forward

2020 has been a huge year for fintech growth and innovation. How can the industry continue to improve?

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In this issue · 11 items

Are banks funding our extinction? The Finanser — Whilst coronavirus, disease and pandemics drive our thinking, we should not forget that there are other issues. The climate emergency hasn’t gone away. In fact, it’s probably ten times bigger than COVID19. Open story ↗ 5 fintech trends during the pandemic Entrepreneur — 70% of the fintech companies that operate in the country are concentrated in Mexico City; however, it is to be expected that due to the pandemic the ecosystem will become more diverse. Open story ↗ Compliance is the cornerstone of bank/fintech partnerships PaymentSource — It's the last all-hands meeting before launch day for your fintech startup. In a crowded market, your product seems like a standout. The accompanying mobile app sparkles and the perks you came up with for cardholders are a hit in early audience testing. Open story ↗ The Dark Side of Fintech Borrowing Havard Business School — Fintechs have revolutionized the banking industry, but some customers end up worse for the experience, according to research by Marco Di Maggio and colleagues. Open story ↗ 3 Ways Crypto is Improving FinTech Tech Funnel — Most of the public focus of cryptocurrency is on price trends, regulation, and businesses that have launched to provide related financial products. Open story ↗ UK maintains position as leader of Europe's fintech community City A.M. — The UK continues to reign as the leader of Europe’s fintech community as investment among its peers lags behind. Open story ↗ Visa's deal to buy fintech startup Plaid faces antitrust scrutiny Reuters — Payment processor Visa Inc’s $5.3 billion deal to buy fintech startup Plaid Inc is facing antitrust scrutiny at the U.S. Justice Department, which filed a petition with a court on Tuesday demanding more information about the business. Open story ↗ British fintech firm opening physical crypto bank branches in India Cointelegraph — The new venture will reportedly include 34 “physical branches and operations” in northern India. Open story ↗ Kazakhstan’s Futuristic Finance Center Becomes Breeding Ground For New Fintech Forbes — The latter became London’s second biggest IPO this month and it came from a company no one has heard of, unless they live in Russia or Kazakhstan. Open story ↗ Starboard tries to find another winner in the fintech space CNBC — ACI Worldwide, Inc. develops and markets software products and services focused on facilitating electronic payments. Open story ↗ UBS plans to invest $200 million in fintech startups PaymentSource — UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients. Open story ↗

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