Issue 290 · Nov 13, 2020 Weekly edition · 3 min read

Fintech News

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China Vows Escalation in Clampdown on Fintech’s Dominance

China’s top banking watchdog doubled down on a push to rein in financial technology companies such as Ant Group Co., promising to eliminate monopolistic practices and strengthen risk controls in the industry.

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In this issue · 11 items

Visa rolls out Fintech Partner Connect programme Finextra — Visa is to provide financial institutions and merchants with seamless access to a roster of 13 curated fintech partners offering a suite of value added digital payments services. Open story ↗ How fintech brands are winning the next generation of customers Google — A big shift in the financial services industry is well underway. Consumer trust — the primary driver of brand preference — is no longer dependent on institutional legacy or brick-and-mortar footprint. Open story ↗ Railsbank, the Banking-as-a-Service, raises $37M in growth funding Tech Crunch — Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. Open story ↗ Fintech M&A rebounds from the pandemic Financial Planning — RightSize Solutions, a firm providing IT and cybersecurity services to RIA firms, has been acquired by Swizznet, a cloud-based software company. Terms of the deal were not disclosed. Open story ↗ PayPal Removes Waitlist for New Crypto Service, Boosts Weekly Purchase Limit to $20K Coindesk — All eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency, the company announced Thursday. The firm also increased the amount of crypto that users can purchase in a week. Open story ↗ How Ant’s Suspended IPO Is Related to China’s Digital Yuan Coindesk — Ant Group’s suspended initial public offering (IPO) has shed further light on a possible motivation behind China’s digital yuan. The Chinese government appears to view the payments giant as a destabilizing force to China’s economy, and the digital yuan is a way to keep companies like this in check. Open story ↗ What do customers think? The Finanser — Groundbreaking report by The Economist Intelligence Unit uses machine-learning to analyse over 10 million online conversations about personal finance Open story ↗ "Fintech" Borrowers More Likely to Default? Fintech Business Weekly — Well, it’s finally over, and Joe Biden will become President on January 20, 2021. Maybe some VC dollars need to flow to ‘votetech’ (and ‘pollingtech’, for that matter). Open story ↗ This Military Vet-Turned-Fintech Entrepreneur Uses Education and Communication to Grow His Business Entrepreneur — Mac Angelo credits the Army with instilling his most important management lessons. Open story ↗ FinTech Ripple chooses Dubai International Financial Centre for regional headquarters Gulf News — Ripple to work with local and regional institutions to revolutionise payments industry Open story ↗ Two Israeli fintech startups in Visa’s digital payments push The Times of Israel — ChargeAfter and Personetics are among 13 fintech firms selected by Visa to be part of a suite of new payment techologies it is offering European banking clients Open story ↗

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China Vows Escalation in Clampdown on Fintech’s Dominance

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