CB Insights announces Future of Fintech gathering in New York
CB Insights platform that catches every private company financing and angel investment database, has announced ‘Future of Fintech’, an exclusive gathering of world’s best fintech startups and active investors. The event will be held from 26 to 28 June 2017 in New York. The gathering will focus on the ongoing pace of disruption and funding in the finance sector and what it means for incumbents, consumers, and the future of financial services across blockchain, insurance tech, robo advising, AI, among others. “If you want to understand the powerful and fast-emerging technologies profoundly reshaping financial services and the knock-on effects that will have, the CBI Future of Fintech is the place […]
European fintech deals hit 5-year high in 2016
Europe’s advantage in financial technology has been highlighted by figures showing fintech deals hit a five-year high on the continent in 2016, defying the global trend of a slight decline. The number of deals in European fintech rose 11 per cent to 179 in 2016, compared to a 1 per cent global drop, according to the data analytics company CBInsights. Germany and the UK dominated, staking claim to nine out of the 10 biggest European fintech deals. The deals grew 124 per cent compared with 2011’s total, in contrast to an 8 per cent drop-off in deal activity in the US to 422 deals — identical to 2014 levels, the […]
China leads the way in FinTech investments
China has emerged as a leading FinTech (financial technology) hub in terms of capital investment, which was estimated to be worth £6.5 billion (US$8.1 billion) in 2016, more than triple the £2.05 billion in 2015. “The significant growth and magnitude of FinTech investment into China is underpinned by robust access to capital, both through public and private sources of funding”, accounting firm Ernst & Young claimed in a UK government-sponsored report entitled China and UK FinTech: Unlocking Opportunity. Over the last few years, FinTech investment in China has seen strong support from the PRC government, with more than 750 government-led funds investing in the sector, in addition to £4.3 billion […]
Japanese blockchain firm bitFlyer allocates shares to local financial institutions
Tokyo-based blockchain company bitFlyer announced that it has allocated new shares to third parties including Sumitomo Mitsui Banking Corporation Group, Mizuho Financial Group, and Dai-ichi Life Insurance Company for the purpose of fundraising. With the newly raised funds from Japan’s top financial institutions, bitFlyer intends to build up its financial base as well as accelerate their efforts in establishing itself in the bitcoin and blockchain space through a strategic partnership with these firms. The blockchain company aims to develop and design core systems that make use of blockchain technology for more industries in the future to realize their management. bitFlyer has provided the technology for viability test run by Sumitomo […]
Amazon Is Set to Rule the Fintech Game: Andreessen Horowitz VC
If any technology company makes a major move into payments and banking, the most obvious candidates are Apple and Google. After all, both have a lot of experience thanks to the Apple Pay and Google Wallet functions, and both have already persuaded hundreds of millions of customers to share their credit card information. But in the long run, it’s likely to be another tech giant, Amazon, that captures the market for Internet payment services, according to Alex Rampell, a general partner at the venture capital firm Andreessen Horowitz. Speaking at the Goldman Sachs Technology conference in San Francisco on Tuesday, Rampell explained that Amazon is more inclined than its rivals […]
PayPal acquires Vancouver-based TIO Networks in $304m deal
PayPal Holdings Inc. (NASDAQ:PYPL) is acquiring Vancouver-based TIO Networks in a deal worth $304 million. The companies announced the definitive sales agreement Tuesday (February 14), which will see PayPal pay $3.35 per share in cash — a 22.6% premium above its 20-trading day average price. TIO Networks chairman and CEO Hamed Shahbazi told Business In Vancouver he was “very excited” his company was becoming a part of the PayPal family. “It’s an incredible company,” he said. “Dan Schulman, the [PayPal] CEO, has a tremendous vision that really aligns well with us and his vision of financial inclusion is one we think gives us an opportunity to really amplify the scale […]
Qumram Voted ‘Most Innovative FinTech’ by Swiss Bankers and Wealth Managers
Qumram, a leading global RegTech firm providing digital compliance and risk management solutions, has been recognized as the ‘Most Innovative FinTech’ at the 4th Annual WealthBriefing Swiss Awards 2017. The awards ceremony, attended by more than 230 members of the Swiss private banking and wealth management community, took place on 9 February 2017. “Qumram drives innovation by removing compliance as a barrier, and leveraging big data collected for compliance to grow revenue,” said Stephen Harris, ClearView Financial Media’s CEO, and Publisher of WealthBriefing, who presented the award alongside Barclays Bank (Suisse) CEO James Buchanan-Michaelson. “These awards truly reflect excellence in wealth management,” said Harris. “The watchwords of the judging process […]
Swiss Fintech Temenos announces proposal to acquire ASX-listed Rubik
Temenos, the software specialist for banking and finance, today confirms that it has entered into a binding Scheme Implementation Deed to acquire Rubik Financial Limited, a leading software provider to the Financial Services sector in Australia, via a Scheme of Arrangement. Founded in 2007, Rubik is a leading Australia–based, Australian Securities Exchange (ASX) listed financial software company providing banking, wealth management and mortgage broking solutions, primarily in Australia, and also internationally across Asia and the Middle East. Rubik has more than 150 employees servicing 930 direct clients and 23,000 end-users in 12 countries. Temenos has a longstanding partnership with Rubik which dates back nearly 10 years. Rubik has successfully used […]
