F|T: The FinTech Times – The truth about blockchain

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

Wealthsimple raises $50 million in funding, announces $1 billion in assets(BETAKIT)

The Toronto-based FinTech company has raised $100 million to date.

STACK RECOMMENDS: 3 reasons banks are collaborating with FinTech startups(HUFFPOST)

“FinTechs leading banks towards innovation.”
– Miro Pavletic, CEO and co-founder of STACK

Sequoia-backed startup Empower aims to replace your bank’s app(TECHCRUNCH)

Empower has launched a new mobile app that combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money, automate your savings, and soon, pay bills and pay down your debt.

FinTech Australia loves what the budget will do for FinTech startups(THE CHAINSAW)

Australia’s budget included an expansion of the regulatory sandbox, which allows FinTech startups to pilot products without requiring a full licence; and a commitment to open up big bank data to startups.

Ferst Digital wants to rebundle fragmented SMB banking with its API-enabled platform(BETAKIT)

Ferst Digital recently launched its free Incorporate In Canada feature, which allows businesses to enter the company’s information in under 10 minutes for processing.

Kreditech secures EUR110 million investment from PayU(FINEXTRA)

Under the agreement, Kreditech will deliver its AI and machine-learning credit underwriting and loan management technology to PayU’s 300,000-strong network of merchants.

The truth about blockchain (HBR)

True blockchain-led transformation of business and government is still many years away. That’s because blockchain is not a “disruptive” technology, which can attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly.

7 ways FinTech is changing the job market(HUFFPOST)

The list says remote work is becoming more viable, and more job cuts in traditional institutions are likely to occur.

Ulule wants to be the “best” crowdfunding platform instead of the biggest(BETAKIT)

“We think that crowdfunding platforms are not only about funding, but about success: finding a market, finding a public, a community,” said co-founder and CEO Alexandre Boucherot.

KPMG acquires FinTech matchmaking firm Matchi(FINEXTRA)

KPMG is looking to cash in on the growing trend for bank and startup collaboration with the acquisition of FinTech matchmaking platform Matchi.

Banks are ready to take the next, customer-centric step in AI(VENTUREBEAT)

“Data and analytics will soon become a key competitive advantage in financial services, so it’s critical to organize around it now.” said Steve Ellis, head of Wells Fargo Innovation Group.

NatWest and RBS roll out automated lending process for commercial real estate deals(FINEXTRA)

The two firms are introducing an automated process that will see them make commercial real estate lending decisions of up to £2 million in just 45 minutes.

Empire Startups Conference wants to connect Canadian FinTechs with US investors(BETAKIT)

Speakers include Wealthsimple CEO Mike Katchen and Real Ventures partner Janet Bannister.

Financial technology is proving less of a battleground than feared(ECONOMIST)

New FinTech competitors have made some inroads, but—in Western countries, at least—they are finding that collaboration is a likelier path to success than a full-on fight.

Zopa becomes the first of the ‘Big 3’ peer-to-peer lenders to be authorised by the City watchdog(BUSINESSINSIDER)

Zopa said it has gained full authorisation from the FCA, almost two years after it applied in 2015. The company’s platform connects savers looking to invest their money directly with borrowers looking for quick and easy cash.

Indian FinTech startup EarlySalary raises $4M in Series A from IDG Ventures India & DHFL(BWDISRUPT)

EarlySalary, which helps professionals get instant loans and salary advances, will use the funding to expand its team’s skills in machine learning and grow its customer base.

Nest Wealth CEO says Canada’s concentrated market means FinTechs must partner with banks for customers(BETAKIT)

“The reality of the Canadian marketplace is that distribution, moreso in Canada than any other geographic region, is so concentrated among, at most, ten large institutions,” said Randy Cass.

Swedbank acquires PayEx (FINEXTRA)

Through the acquisition of payments provider, PayEx Swedbank is entering a new market to add services that meet customers’ needs of digital solutions for payments.

Overbond adds swap price calculator to corporate bond intelligence toolkit(BETAKIT)

Overbond said swap pricing calculator will help treasurers navigate structural changes in the fixed income market and gain better access to offshore bond markets.


Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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