FinTech Scotland announces partnership with FinTechNZ
Last week, FinTech Scotland announced its first partnership with New Zealand fintech hub, FinTechNZ. According to the Scotland hub, FinTechNZ is The New Zealand Financial Innovation & Technology Association. It is a working group focused on delivering economic growth in New Zealand through financial innovation. Slightly older than FinTech Scotland they have a member base of just more than 100. It also works closely with the New Zealand government to offer guidance on policies and regulations. While sharing more details about the partnership, FinTech Scotland stated it is looking to develop a network with other international hubs and several reasons have motived the organization in doing so, which are the […]
Temenos to create financial technology powerhouse as Fidessa agrees takeover
The boards of Temenos and Fidessa have reached an agreement on the terms of an all-cash takeover of the UK-based trading technology supplier in a transformational deal for the Swiss core banking vendor. Under the terms of the transaction, Fidessa shareholders will be entitled to receive £35.67 in cash for each Fidessa share, a 36.9% premium to the firm’s closing price of £26.05 on 16 February. Shareholders will also be entitled to receive and retain a final dividend and a special dividend in respect of the year ended 31 December 2017 together amounting to 79.7 pence in aggregate per Fidessa share. The transaction, which is expected to close in the […]
Robo-adviser Wealthsimple raises $51 million to expand service
Wealthsimple, a Toronto-based online wealth management startup, has raised $51 million in funding from Power Financial Corp (PWF.TO), as it seeks to compete in the increasingly crowded digital investment advice market. Wealthsimple, which is among the group of digital investment managers known as robo-advisers, will use the round of funding to add features to its service and expand to offer other financial products, it said.The company last year became the first foreign robo-adviser startup to enter the U.S. market and later in 2017 opened in the UK. It currently manages $1.45 billion for more than 65,000 clients in the three markets it operates in. Wealthsimple and other robo-advisers are seeking […]
Fintech Raisin crosses the channel to offer services to UK Savers
Savings marketplace Raisin has launched in the UK. The Berlin based Fintech has been expanding across the European continent but today they have crossed the British Channel to offer their services to UK savers. Raisin provides an interesting service that leverages technology to help savers to save more. Users of their site can shop around for higher interest rates on their money – regardless of their geographic location. Working alongside its first partner bank BACB, Raisin.co.uk offers savers the convenience of a single registration process to apply for multiple savings products. Raisin reports that it is currently on-boarding additional UK banks to the platform and will build a marketplace with […]
Sydney Fintech Market Update
At Tier One People, we get to work with some amazing startups in FinTech and InsurTech. 2018 has got off to a flier, so here is the first Tier One People FinTech jobs update of 2018. There is an air of optimism that FinTechs are finally in a position to challenge banks, not just partner with them. Scott Morrison recently announced plans to legislate open banking, essentially customers will own their data and have far greater control. Great news for consumers and for FinTechs. And with the NPP (New Payments Platform) set to go live any day now, the landscape is set for more competition to enter the Australian Financial […]
UK start-ups attract record £8.27bn investment
UK start-ups raised more money in equity investment last year than ever before, new research shows, as foreign investment cash flooded into the country. Data from the research firm Beauhurst, which specialises in tracking growth businesses, shows UK start-ups picked up £8.27bn worth of funding during 2017, more than twice as much as in 2016. Last year was also a record year for megadeals, with no fewer than 29 companies attracting investments of more than £50m. These businesses were led by Improbable, which raised £389m from the Japanese technology investor SoftBank Capital, and Farfetch, which raised £313m from the Chinese e-commerce giant JD.com. Other large funding rounds included TransferWise’s raise […]
Ant Financial plans equity fundraising at potential US$100 billion valuation
A fundraising would bring Ant a step closer to a hotly anticipated initial public offering by establishing a more current valuation. China’s Ant Financial Services Group is planning to raise up to US$5 billion in fresh equity that could value the online payments giant at more than US$100 billion, people familiar with the move said.A fundraising would bring Ant, in which e-commerce firm Alibaba Group Holding is taking a one-third stake, a step closer to a hotly anticipated initial public offering by establishing a more current valuation. Ant’s last fundraising in 2016 valued the owner of Alipay, China’s top online payment platform, at about US$60 billion. The new round should […]
Indians can now send money to each other via WhatsApp
WhatsApp is beta testing letting users in India send money to each other through the app. The feature isn’t available to everyone yet, but here’s what it looks like once you have it. Tapping “Payment” lets users enter an amount and zap it to anyone they’re chatting with on WhatsApp, as long as the other person has payments enabled too. The feature works on a system called Unified Payments Interface, an Indian government-backed technology that lets users transfer money directly into each other’s bank accounts using just their mobile numbers, or a bank-issued payment ID that looks like an email address. To read more, please click on the link […]
