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Fintech News Daily 2019: 07-13 October

Top fintech news and insights from the global financial services industry

#12 Bank of Russia approves roadmap for RegTech and SupTech

"The action plan (roadmap) includes RegTech and SupTech concepts, pending projects, and initiatives based on the proposals of financial market participants. The document has been elaborated to ensure that the Bank of Russia carries out efficient and high-tech regulation and supervision."

Source: The Central Bank of the Russian Federation

submitted by Christophe Langlois

#14 Indonesia’s OJK grants new licences to six fintech lenders

"Indonesia’s Financial Services Authority (OJK) has granted fully business operational licences to six fintech startups as of September this year.  The six startups are Modalku (the Indonesian arm of Funding Societies), KTA Kilat (Pendanaan), Kredit Pintar, Maucash, Finmas (Sinarmas and Oriente-backed fintech firm) and KlikACC."

Source: Deal street Asia

submitted by Christophe Langlois

#15 The UK’s largest robo-advisor is struggling to rein in losses

"Amid heavy spending on staff, technology, and marketing in a bid to attract new customers, Nutmeg, the UK's largest robo platform, has revealed a 50% surge in losses in 2018, reports the Financial Times. During the period, it lost £18.6 million ($22.9 million), compared with £12.4 million ($15.3 million) in 2017."

Source: Business Insider

submitted by Christophe Langlois

#17 Lloyd’s of London chair bets on the future by joining insurtech startup, Cuvva

"UK-based insurance startup, Cuvva has appointed Bruce Carnegie-Brown to chair its board, effective immediately subject to regulatory approval. Carnegie-Brown has over three decades of experience in the financial sector in the insurance, banking and asset management sectors."

Source: Fintech Finance

submitted by Christophe Langlois

#18 Facebook’s Libra Association crumbling as Visa, Mastercard, Stripe, and others exit

"Visa, Mastercard, eBay, Stripe, and Mercado Pago have all withdrawn from the Libra Association, dealing a major blow to Facebook’s plans for a distributed, global cryptocurrency. The withdrawals were first reported by the Financial Times and Bloomberg."

Source: The Verge

submitted by Christophe Langlois

#19 Brazilian fintech Nubank has grown to 15 million users: CEO

"Brazilian financial technology start-up Nubank now has 15 million clients, the firm’s chief executive said on Friday, a figure which underlines the rapid growth of the Sequoia Capital-backed venture in Latin America’s largest economy."

Source: Reuters UK

submitted by Christophe Langlois

#20 HSBC Extends open Banking Concept to Trade Finance With Launch Of First api

"In an industry-first, HSBC today launched a new trade finance API that gives Financial Institutions (FIs) the ability to build applications for their clients, leveraging HSBCs network and capabilities. For example, FI clients will be able to give clients full visibility of their Guarantees on their own platform even when they are delivered by HSBC to the beneficiary."

Source: Global Banking & Finance Review

submitted by Christophe Langlois

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What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on VisibleBanking.com are his own.

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