Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.
Canada FinTech Forum seeing 10 startups pitch for $230,000 in prizes (BETAKIT)
The FinTech Start-up Pitch Contest will give ten finalists the opportunity to present their companies to the financial services community and investors, who share close to a total of $1 billion in assets under management.
Zafin Recommends: Open Banking: How Banks Can Prepare for the Future of Finance (ZAFIN)
Open Banking will impact the way banks will offer and communicate products and services, including standard price and other information. It will place even greater demands on the digital product and servicing models that banks will need to retain and attract customers and to grow wallet share.
Report: Canadian VC activity falls for second straight quarter in Q3 2018 (BETAKIT)
Looking back over eight quarters, Q3 2018 is the only quarter where VC activity in Canada didn’t increase year-over-year.
JPMorgan is building a FinTech campus in Silicon Valley (CNN)
The bank said it will open a new “FinTech campus” in Palo Alto in 2020. It will house more than 1,000 employees, consolidating the company’s existing presence in the Bay Area.
Finn AI closes $14 million Series A with Yaletown Partners, Flying Fish Partners (BETAKIT)
The round was led by Yaletown Partners and Flying Fish Partners, with participation from new investors like BDC Capital’s Women in Technology Fund (WIT) and New York-based 1843 Capital.
FinTech startup Alpaca raises $3M in pre-Series A (FINSMES)
Alpaca has just launched a commission-free trading platform where individuals can use algorithms, trading bots and artificial intelligence in their investing and trading activities.
Pungle integrates with Visa Direct for real-time payments (BETAKIT)
The announcement comes in the middle of a real-time payments land war in Canada between Visa and Mastercard.
HSBC Partners with Avant’s End-to-End Tech Amount to Launch Digital Lending Platform (CROWD FUND INSIDER)
HSBC said it is leveraging Amount’s technology and digital capabilities that have been used by Avant to originate close to $5 billion in loans to meet the personal lending needs of over 600,000 consumers.
Minds, the blockchain-based social network, grabs a $6M Series A (TECH CRUNCH)
The funding was led by Medici Ventures, Overstock.com’s venture arm.
National Bank of Canada blockchain pilot eyes trade finance contracts (PYMNTS)
The National Bank of Canada, the country’s sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powered trade finance solution. The technology can “intelligently construct agreements” for streamlined contract development, the companies noted.
Southeast Asia’s Grab partners with MasterCard to offer prepaid cards (TECH CRUNCH)
The deal will see its Grab Pay business offer Grab’s 110 million registered users the option to use a virtual Mastercard to make payments both online and in-person.
Why FinTech startups love Singapore’s hawk-eyed central banker
(BLOOMBERG)
The city-state’s top banking regulator welcomes the potentially disruptive startups to the prosperous island.