F|T: The FinTech Times – Bank execs hate Apple’s secret project

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.

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STACK FinTech Times


BetaKit

National Bank investing $6 million in Nest Wealth, plans to integrate its robo-advisor tech

The transactions are still subject to regulatory approval.


Stack

STACK RECOMMENDS: Bank on it: Canadians want more from their financial institutions online

“More Canadians craving self-serve banking. FinTech delivers with mobile solutions.”
– Miro Pavletic, CEO and co-founder of STACK


BetaKit

NetCents users can now purchase bitcoin with MasterCard

The company’s founder and CEO Clayton Moore said this is a big step for NetCents as “no one else offers direct BTC purchasing with MasterCard or Visa.”


TechCrunch

Startup Hippo Insurance launches in California with a tech-enabled home insurance

Hippo not only uses its technology to optimize pricing for potential policyholders, but offers tech-enabled devices like leak detectors and other IOT tools to monitor homes and ensure their upkeep.


Finextra

Stock trading app Robinhood raises $110M at $1.3BN valuation

DST Global led the round, with participation from NEA, Index Ventures, Ribbit Capital, as well as new backers Thrive Capital and Greenoaks Capital.


Business Insider

Apple is working on its own Visa pre-paid debit cards — and bank executives hate it

The pre-paid debit cards would tie into an unannounced service that would allow iPhone users to send money to each other digitally.


TechCrunch

Snapay aims at the unbanked with an app which replaces cash

The company says it works in 50+ countries and six currencies, with an app which is poised to be launched on the Android/Google Play store.


Finextra

National Bank of Canada acquires interest in Myanmar mobile money outfit Ongo

The National Bank of Canada has acquired a 22% stake in Ongo, a mobile money service with big plans for expansion in Myanmar.


HBR

How banks can compete against an army of FinTech startups

The glacial pace at which banks have moved SME lending online has left them vulnerable. Harvard Business Review suggests three strategies that banks can use to compete successfully online.


BetaKit

The Money Finder closes $1.5 million seed round from Build Ventures, Innovacorp

“Our team has bootstrapped everything to this point. We’ve built a product that the market wants and people need,” said founder and CEO Stephanie Holmes-Winton.


Finextra

Visa partners with local polytechnics and Singapore FinTech Association

The partnership will allow students to engage with payments experts from Visa, and visit the Visa Innovation Lab.


FinSMEs

Quovo raises $10M in Series B funding

New York-based Quova, a data platform that provides insights and connectivity for financial accounts, raised the funds from F-Prime Capital and Napier Park Financial Partners, with participation from existing investors.


BetaKit

ATB Financial will be the first bank in Canada to get Pepper robot assistant

Pepper is a proof of concept to test see how Albertans feel about interacting with a robot.


Forbes

The challenges China’s booming FinTech sector will need to tackle for longterm growth

China’s FinTech sector is on the rise, and despite some challenges, the industry appears to be a bright spot in China’s economy.


Business Insider

Sir Alex Ferguson-backed startup Pockit has raised £2.3 million

The startup, which offers banking services to the ‘unbanked,’ also raised just over £600,000 issuing new Seires A shares in December 2016. It’s not clear from the filings who the money was raised from.


Fortune

Venture capital enthusiasm for FinTech startups shifts to Europe

VC investments in financial services startups are showing a geographical split, with funding for so-called “FinTech” companies in the US cooling but soaring in Europe, according to a new report.


Finextra

BBVA steps up FinTech acquisition strategy with purchase of Openpay

With BBVA’s backing, Openpay has set its sights on tripling the number of transactions currently processed to more than three million by the end of the year.


BetaKit

Exiger acquires Toronto-based OutsideIQ for AI-based financial compliance solutions

The acquisition is meant to help financial institutions convert compliance resources, manage large amounts of data, and respond to regulatory demands.



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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.