International FINTECH - Digest: 12 news about the most important in the industry

A selection of the most important news on the financial technology market. In this issue: London upholds leadership in innovation, Monzo unites with TransferWise, Agibank postpones IPO, children become victims of identity theft and much more.



Over a million children suffered from identity theft last year

Two thirds of crime victims have not yet reached the age of eight.

Usually, speaking of the theft of personal data, we consider this a problem for adults, but in fact no one is protected from danger. Last year, more than one million children were victims of this crime in the United States, with a total of $ 2.67 billion in damage, according to a study by Javelin Strategy & Research, published this year.

The victim of a crime can be regardless of age: the researchers found that two-thirds of the victims did not even reach the age of 8. Another 20% of crime victims are between 8 and 12 years old.



The US Treasury will offer to regulate fintech industry

Fintech market players are eagerly awaiting the publication of a report by the US Treasury on reforming legislation regulating relations in the fintech sector. It is assumed that the report will recommend the introduction of regulatory sandboxes (legal regime for conducting experiments) and framework regulation for the fintech industry at the federal and state levels.

Craig Phillips, Advisor to the Minister of Finance Stephen Mnuchin, previously reported some information about the report, which will be the latest document in a series of studies conducted in accordance with President Trump’s decree. Phillips said what issues will be addressed in the text of the report, and also noted that it will talk about the need for reform.




Fintech-friends: Monzo unites with TransferWise to organize international payments

“So what is happening now?” I ask. “The friendship between two good friends has just become stronger,” TransferWise co-founder Christo Kerman responds with laughter, and Monzo co-founder Tom Blomfield, who also participates in a video conversation, smiles approvingly. “Forgive me for opening your surprise,” I tell them. At the time of our interview, the companies have not yet announced the start of joint work.

As part of the partnership, which TechCrunch was the first to talk about almost three weeks ago, TransferWise will provide international payments to 750,000 customers breaking British bank templates. For TransferWise, this is already the second partnership with the bank in a month - previously FINTECH unicorn announced the start of cooperation with Groupe BPCE, the second largest bank in France.



African-American, born in zero, invisible to fintech companies?

Around the same time as the superstar of the Los Angeles Lakers basketball team, Kobe Bryant, launched his venture capital fund, which invests in modern technology, Mensa Pounds learned about BREAUX Capital - a Fintech company that was just beginning to work on its big task: to change the financial services market, making it more convenient for blacks born in zero.




Why Nyca Partners has not invested in Coinbase and Ripple

Nyca Partners - the third of the most active venture capital firms in the global financial market - is also investing in blockchain projects, such as the Abra money transfer service.
However, in 2014, Nyca passed by blockchain companies that have now become very valuable - including Coinbase, Ripple and Blockchain.io.

The company does not regret that it has missed this opportunity, says Nyca director Hans Morris, formerly president of Visa and one of the leaders of Citigroup.



Media: Brazilian Agibank postpones IPO

According to two newspapers, Brazilian Banco Agibank SA, which provides loans online, has postponed its IPO due to weak interest in the market.

Low demand for stocks is caused by market volatility, Valor Econômico and O Estado de S. Paulo write, without naming their sources.




Revolut introduced a new banking instrument

Fintech-company Revolut, showing impressive growth, introduced Revolut Connect - a tool that will help business account holders to automate and simplify their work with financial tasks.

The London-based bank of the new model has developed this tool to facilitate the tasks of the CSC for its business clients. Revolut is currently announcing the daily conclusion of more than 120 business service agreements; Now the bank has over 60,000 such clients.



How startups survive staff hunger in fintech market

In the future, the British FINTECH sector may face personnel shortages: on the one hand, there are predictions about the creation of 30,000 jobs by 2030, and on the other hand, it remains unknown what UK policy will be after the country's withdrawal from the European Union. Ricky Lee, founder and CEO of Find.Exchange, shares ideas on how startups can prepare for future competition for the most valuable employees and the struggle to retain them.



DIFC teaming up with Startupbootcamp to develop fintech

Representatives of the Dubai International Financial Center (DIFC) Free Economic Zone signed an agreement with Startupbootcamp. DIFC intend to become the main fintech hub in the region.

The agreement will help DIFC increase its fintech opportunities and develop the ecosystem of venture capital in the emirate, as well as give a much needed impetus to the growth of entrepreneurship.



Fintech companies move banks' old guard "

On the very first day of the Future of Fintech conference organized by CB Insights in New York, the leaders of FINTECH companies, as representatives of a new revolutionary class in the financial industry, sharply criticized the work of the leading banks and Wall Street.

For decades, stock brokers bullied commissions on their services, said Vladimir Tenev, co-founder and CEO of Robinhood. According to Harith Talwar, director of the Marcus personal loans program at Goldman Sachs, a large number of practices harmful to customers have not yet been eradicated in the credit card industry. And Wealthfront CEO Andy Rachlif called the services of financial consultants expensive, and the idea itself was overvalued.




Top 50 fintech startups in Europe and the struggle of London for the title of the most innovative city

From the published Fintech50 ranking for 2018, it is clear that more than half of the best startups in Europe are located in London. The British capital is struggling to maintain status, despite growing competition from cities such as Berlin, Dublin, Amsterdam and Warsaw.
In London, there are 27 best fintech startups in Europe, which are recommended to follow closely. The rating is based on a study of the work of 1,800 FINTECH firms; it became the largest sample of its existence.

The jury included experts on innovation and investment from leading banks, venture investors and representatives of the largest fintech firms, such as Stripe. For the first time in the history of the rating, experts separately noted companies that took the first five places out of fifty in the rating.



Brazilian Fintech-start-up Nubank has over one and a half million customers in digital banking

Fintech Startup Nubank (whose cost is reportedly more than $ 1 billion thanks to programs like Google Launchpad) is ready to offer digital bank accounts to people who are not its customers.

The bank has already offered digital banking services to one and a half million of its customers, each of which is the owner of a violet credit card, all of which is processed without a commission. Now Nubank is ready to offer its services to an unlimited circle of people.