Fintech: Why It Matters So Much to Your Investment
Fintech is a term that combines two words; Financial and Technology. It means emerging financial services that are fast expanding to include inventions in financial literacy, retail banking, education, investing, and cryptocurrencies. While fintech was initially only applied to conventional technologies that were applied to back-end established clients and financial institutions, the term now refers to how to people operate their enterprises ranging from double-entry accounting to currency invention. Notably, financial technology has grown explosively as mobile internet revolution advances. Facts about Fintech and their applications today In their latest report, Accenture established that international investment in fintech blast through the roof in just a couple of years. From $ […]
Digital currency exchange Coinbase raises $100 million, hits $1 billion valuation
Digital currency exchange Coinbase announced on its blog on Thursday that it has raised $100 million in so-called “Series D” funding led by U.S. venture capital firm IVP, making it the first bitcoin start-up to achieve a valuation of at least $1 billion. Start-ups with a $1 billion valuation are part of what is called a “unicorn” club in the venture capital industry. The $1 billion valuation was estimated by data and research provider Pitchbook. Series D is generally the fifth stage of funding, following a seed investment, and series A through C rounds. With the new investment, Coinbase has raised $217 million since it launched in 2012. It raised […]
Vantiv seals $10 billion Worldpay acquisition
Vantiv Inc. agreed to acquire U.K. payments processor Worldpay Group PLC for about GBP8 billion ($10.4 billion) in cash and stock, one of the biggest deals in the fast consolidating sector. The tie-up, according to a joint statement Wednesday, will create a trans-Atlantic payments processing giant with a combined market value of more than $20 billion. The companies disclosed their negotiations last month as the Ohio-based Vantiv appeared at the time to ward off a potential rival bid from J.P. Morgan Chase & Co. The combined entity will be called Worldpay. Payments businesses are under pressure to join forces in part to cut costs as greater regulatory scrutiny and rising […]
The 10 Biggest Fintech Companies in America
Financial technology companies in the U.S. raised $3.5 billion in the first half of 2017, according to KPMG, as investors rushed to place bets in buzzy sectors like insurance and digital currencies. The U.S. is now home to 13 fintech unicorns who have scored valuations of at least $1 billion. This year alone, Robinhood (free trading), AvidXChange (automated invoicing for small businesses) and Symphony (Wall Street messaging platform) all joined the billion-dollar club. Here are the ten most valuable private venture-backed fintech players based in the U.S.: 1. Stripe Value: $9.2 billion* Founded: 2010 Founders: Patrick and John Collison CEO: Patrick Collison Allows merchants to accept online and mobile payments […]
A Bitcoin for your thoughts?
By Naomi Christopher, Midwinter Financial Services, Senior Manager – Brand Those of us in the tech world can all agree that Bitcoin is genuinely starting to take off or at least cause a stir…. If by take-off you mean clamber $672 bucks one day and slide down $384 the next. But while some of us look on with wide eyed enthusiasm as the price of it continues to climb and fall and then climb and fall (but mostly climb at the moment!), much of the rest of the world continues to scratch their heads as they grapple to understand “what’s it all about?” And of course, whether it is in […]
PCF Bank partners with Sandstone Technology to launch a digital origination and servicing platform
PCF Bank has launched a new digital platform to facilitate the origination and servicing of savings deposit products online. The service uses the latest responsive device platform from Sandstone Technology supporting mobile, tablet and traditional PC channels. The launch of deposit products by the bank complements its established consumer motor finance and SME asset finance businesses. The bank obtained its banking licence from the regulator in December 2016. The collaboration with Sandstone was predicated on having a flexible digital platform that can be extended to meet PCF Bank’s future requirements and the digital banking needs of the bank’s ever-demanding client base. The service uses BankFast, Sandstone’s global direct banking platform […]
Apple says it will overtake Samsung Pay by year’s end
Apple has indicated it plans to launch Apple Pay in a number of new territories before the start of 2018, a feat that would see it catch up to and overtake current digital wallet frontrunner Samsung. Speaking at the company’s earnings call yesterday, Apple CFO Luca Maestri says that “the reach, usage, and functionality of Apple Pay continued to grow.” He claims that “Apple Pay is by far the number one NFC payment service on mobile devices, with nearly 90 percent of all transactions globally. Momentum is strongest in international markets, where the infrastructure for mobile payments has developed faster than in the US.” “In fact, three out of four […]
ADGM and KPMG launch Fintech Abu Dhabi Innovation Challenge
Abu Dhabi Global Market (ADGM) and KPMG have come together to launch the first ever Fintech Abu Dhabi Innovation Challenge on 22 October 2017 in Abu Dhabi to enable start-ups to access industry-leading solutions that may help entities address emerging business challenges in the financial services industry. The Innovation Challenge, as part of the inaugural Fintech Abu Dhabi event on 22 and 23 October 2017, includes an intensive five week programme, which will allow innovative and mature start-ups to conceptualise and present market-ready solutions that can address real business challenges identified in the financial services industry in the Middle East, Africa and South Asia (MEASA) region. “We are excited to […]
