JUNE 6, 2021
4 min read
What did this week bring to you: unexpected discoveries, pleasant surprises, or moments to think through? If you cannot recollect something special, don’t worry! Instead, let us make your Friday special with the selection of fresh fintech news! We’re ready to make you WOW not for once! Why don’t we start?
Pick Up Hot News about Ever-Changing Life of Startups
Warren Buffett Shook Things Up by Investing in Nubank
Is Nubank worth so much business tycoon’s attention? Many magnets are now asking themselves a question whether they’ve missed a fine piece and undersold this young fintech. But the fact that Buffet sends a $500m cheque to purchase this Brazilian fledging company remains a big surprise for the majority. But not for all! Some companies are good at taking quick decisions and join the initiative. Here we speak about Canada Pension Plan Investment Board, Sunley House Capital, and MSA Capital, which have caught up with Buffet’s investment and added an extra $250m to the overall startup’s funding.
Canadian Trulioo Continues to Show Steady Valuation Rise
This identity verification startup business is currently accessed at $1.75bn and announces the goal to transform into an end-to-end identity platform. Would it be possible without the digitalization outburst? However, today the company can boast of its partnership with Klarna, Payoneer, Nubank, Wealthsimple, Revolut, WorldRemit, and such. The further plan on cooperating with TVC is expected to bring Trulioo the new innovative AI/ML capabilities and stronger marketing strategy.
Klarna Lived the Recent Scandal Down by Launching a New Feature
It’s always inspiring to look at the speedy and effective troubleshooting after the flop! Klarna sets a good example for getting its name back — the company has recently introduced the groundbreaking shopping feature for its clients. It allows users to directly communicate with their favorite retailers without exiting the app or being readdressed somewhere else. As a result, Klarna’s customers are provided with a truly personalized purchase experience with no redundant money and time waste, isn’t it a miracle? Who would remember their small data access violation after that? Is it an achievement of the new CEO Sebastian Siemiatkowski?
Major Cryptocurrency & Security Hits of the Week
Bottlepay Starts Its Bitcoin-Focused Service Expansion in Europe
After the tangible success in the UK, the app decided to broaden its bitcoin sending and payment services sway over the European region. The hallmark that stipulates Bottlepay’s popularity to the great extent is the exquisite tech attachment to social media, such as Twitter (already), Telegram, Reddit, Twitch, and Discord (are awaited in the foreseeable weeks). Owing to this punch line, the company already hit an £11m jackpot in February 2021. What next?
Stable coins in the UK: What the Bank of England Awaits From Them?
Despite the sprouting seeds of doubts, the Bank of England opened a new discussion over the digital assets circulation in the country. Now the question mostly concerns the central bank-backed digital currency (CBDC) or Britcoin, which revs up in the digital payments market. The Bank claims the need to enact severe regulations over the stable coins in terms of capital, liquidity, and central bank support requirements. Meantime, it’s still dubious whether the hassle worth it — what’s your position on it?
APP Scams: Is Anyone Here to Respond?
The statistics confirm the considerable rise of APP fraudulent activities in 2020: almost £500m of loss are registered in the UK. Despite the biggest UK banks’ involvement in providing reimbursement for the digital scam victims, nobody is willing to disclose the exact volume of refund compensation. Will it happen one day at all? Isn’t such transparency critical for combatting the financial cheating problem? For now, it’s clear that if the UK government agrees on adding online scams to the updated ‘Online Harms’ bill, more financial regulations will immediately follow the lead.
Prominent Names to Mention and Discuss
Fly Now Pay Later Aims Higher: The US is at Gunpoint
Even though the travel industry undergoes the worst ever interest decline, the aviation providers are trying hard to survive and lure the clients to their services. A bright example is
London’s Fly Now Pay Later fintech, which has recently spent £10m to fund its expansion in the US and Germany, but the former serves the primary target owing to the annual $100+bn commercial aviation expenses. To enter the market, the BNPL business supplies its customers with the opportunity to divide the trip’s price into 12 monthly installments. Sounds promising, isn’t it?
Derek White Resigns from Google Cloud to Lead Gallileo
The change of CEO position isn’t a big rarety anymore, especially in the contemporary fintech sphere. One of the fresh cases is Derek White’s transfer to Galileo after less than a year of the devoted contribution to the Google Cloud’s FS business. Good specialists are always wanted, right? Probably, that what happened to White who has 20 years of fintech services expertise starting from BBVA and Barclays to US Bank and Google. Now he’ll be responsible for Gallileo’s deeper penetration into the US market. We’ll see what it brings soon!
Goldman Sachs Made the Business Deal with Visa: So What?
The famous US banking provider announced its partnership with Visa Connect solution to accelerate the payments processing and expand the range of payment options. Both corporate and commercial customers should benefit from it! Have you personally waited for a smoother and clearer transaction flow? This fintech blend will make you happy with close to real-time payment accuracy. Does the world become a better place? Or a least more technological?
Did these pieces of news break your ivory tower? Or are you still calm enough to stick to your business intuition? Something is always up with the fintech industry, so we wish you stay informed and be ahead of the rest of the world with the DashDevs Digest! Come back in a week, and we’ll rally together against all the chaos!