This week’s trending fintech news

fintech

PUBLISHED: 27 September 2019
AUTHOR: FINTECH CIRCLE

London overtakes New York to steal global fintech investment crown

According to research detailed in a new report based on Pichbook data, Innovate Finance and London and Partners looked at VO led fintech investments in 2019. In a comparison of deal value and deal count in cities around the world London gained first place with New York taking second place with San Francisco in third placed followed by Singapore and Beijing. Laura Citron, CEO, London and Partners, said: “London has always been ahead of the curve and pivotal in embracing new technology and opportunities while pushing the boundaries of an existing ecosystem, to present an even better solution.” Read more

Visa opens resource portal for fintechs

Visa Partner will give ‘unprecedented’ access to fintechs wanting to build on their network and technologies. Terry Angelos, global head, fintech, Visa said “Fintechs are constantly innovating on our network and creating new types of payment flows that we think will continue to push the boundaries on better ways to pay, everywhere,” adding “Through the launch of Visa Partner, we are making it easier for fintechs to launch with Visa, enabling them to innovate faster and bring new payment flows to market.” Read more

JPMorgan commits to support fintech startups from lower income households

Since opening a community- focused branch in Harlem the bank has announced plans to open six more such branches next year as an extension of their Financial Solutions Lab.  “What we are doing in Harlem is inspiring our work in other communities across the country,” said Thasunda Brown Duckett, CEO of Chase Consumer Banking. “We will continue to make our branches community destinations, strengthening relationships with community partners and investing in FinTech that can help serve people and their personal financial journey, wherever they are.” Read more

London Fintech Fidel secures $18m in US investment

Fidel provides access to real-time financial data from MasterCard, Visa and Amex through a single integration point. The funding round includes investment from, Elefund, Horizons Ventures, 500 Startups Commerce VC and angel investors such as Taavet Hinrikus, founder of Transferwise. Cris Conde former CEO of Sungard. Leading industry figures Hans Morris, former president of Visa and managing partner of Nyca Partners, and Yusuf Ozdalga, partner at QED Investors, will join Fidel’s board of directors. Subrata Dev, founder and CEO of Fidel said “Our goal at Fidel is to supercharge innovation by empowering everyone in the ecosystem,” adding “by making it easy for developers to build on top of the infrastructure, the card networks stay relevant.” Read more

Tide rolls out credit product

UK fintech Tide has launched Tide Capital to add to their business banking service. This will enable instant transactional credit lines to pre-approved Tide Premium members. Amit Kahana, managing director of Tide Capital, said “By offering a credit line through a membership plan we are able to eliminate the stress of ‘getting approved for credit’. Furthermore, we believe that bundling multiple services will save our members time and money, as we can suggest the right package for them” adding “With our current member data we already know who is approved for credit and who isn’t, so if you are approved you can immediately activate the product without any need for an application.” Read more

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