Issue #271 - The second wave of disruption

Fintech News Issue #271

2020-06-11

In the three Top Stories of this week you will find articles on the topics: The New Face of Banking for Generation Z, the Second Wave of Disruption, and Amazon's progress in the loan business. Thanks for reading - Max and the FinTech Weekly team

Amazon unveils small business credit line with Goldman in latest tie-up between tech and Wall Street
Amazon unveils small business credit line with Goldman in latest tie-up between tech and Wall Street
via CNBC

Small business owners who sell on the e-commerce giant’s platform will soon be receiving invitations from Goldman’s Marcus brand for revolving credit lines with a fixed annual interest rate of 6.99% to 20.99%, according to people with knowledge of the offering.

Is this the new face of Generation Z banking?
Is this the new face of Generation Z banking?
via Sifted

Forget fancy apps and metal cards. A new breed of "messenger banks" are breaking onto the scene.

The second wave of fintech disruption: three trends shaping the future of payments
The second wave of fintech disruption: three trends shaping the future of payments
via Finextra

As many parents of adult children do, I recently offered to help my son manage his mortgage application. And, while I was of course delighted to see everything go through in the end, part of me wished I hadn’t got involved. The bank’s processes were ugly and cumbersome, with seemingly endless paperwork, various mobile portals and old-world ways of working squeezed on to digital channels.

Fintech versus Traditional Banking
Fintech versus Traditional Banking
via Crowdfund Insider

Fintechs include any financial tech company that serves any of the following areas; lending, blockchain, Regtech, personal finance, payments and billing, insurance, capital markets, wealth management, money transfer and anything to do with the mortgage process.

Libra Association names Credit Suisse exec Daines chief compliance officer
Libra Association names Credit Suisse exec Daines chief compliance officer
via Finextra

As it looks to get regulators onside, the Libra Association has brought in Credit Suisse's head of financial crime compliance, Sterling Daines, as chief compliance officer.

iBanFirst raises $23.8 million for its borderless financial services
iBanFirst raises $23.8 million for its borderless financial services
via Tech Crunch

French startup iBanFirst has raised a $23.8 million (€21 million) Series C round from Elaia and Bpifrance’s Large Venture fund.

Fintech’s Race Problem
Fintech’s Race Problem
via Medium

One reason I, along with many people of color, have found fintech to be especially interesting has to do with its potential — in the right hands — of dramatically increasing financial opportunities for people who have long been underserved in the financial economy.

Can the UK's fintech start-ups survive coronavirus?
Can the UK's fintech start-ups survive coronavirus?
via The Telegraph

Many 'unicorn' start-ups are scaling back their plans for 2020 because of financial uncertainties caused by the pandemic

Pinwheel is the API platform for income verification that every fintech and neobank needs
Pinwheel is the API platform for income verification that every fintech and neobank needs
via Tech Crunch

A lot of founders start building one idea and in the process, find another one that is more alluring.

40% of New Fintech Firms in Hong Kong Operate With Blockchain
40% of New Fintech Firms in Hong Kong Operate With Blockchain
via Cointelegraph

Nearly 40% of new fintech firms to launch in Hong Kong over the past year are operating in the blockchain sector.

Fintech insurance startup Lemonade just filed for an IPO
Fintech insurance startup Lemonade just filed for an IPO
via Fast Company

Lemonade, a startup that sells insurance to renters and homeowners (not to be confused with the Beyoncé album and film), filed for an IPO on the New York Stock Exchange today, estimating it will raise about $100 million. VCs estimated its current valuation at $2.1 billion, making it another potential unicorn.

N26 CPO on Digital Banking, Building Trust, and More: Spiros Margaris Interview
N26 CPO on Digital Banking, Building Trust, and More: Spiros Margaris Interview
via Fintech News Switzlerland

Switzerland based venture capitalist and fintech expert Spiros Margaris has released the first video interview of his new series @SpirosMargaris & Friends.

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