Fintech News Review for the 15th November

By Jason Hulott | Fintech News

Deloitte, S&P and the Monetary Authority of Singapore are developing a Fintech research platform. Akin to a full survey on a new house, the platform will aim to provide accurate and transparent information on startups to financial institutions and potential investors. The research platform will act as a neutral third party, establishing itself as a trustworthy source to enable investors to make informed decisions with their capital. Finextra

There are 12.2 million older people in the UK and over 53% report fraudsters have targeted them. Toucan and Kalgera‘s efforts to tackle this fraud and improve financial inclusion of older and vulnerable people has won them each an additional prize in the Open Up 2020 Challenge. Setting up secure ways to share financial information with trusted friends and family to support decision making and tracking account behaviour, alerting carers and families to indications of financial abuse are just two ways these startups aim to improve the financial wellbeing of those in the greatest need. Forbes

Worldline, in partnership with Bitcoin Suisse, have agreed a partnership that will see them offering Crypto-currency payment services to Swiss customers and merchants, online and in physical stores. In 2018 Worldline took over SIX Payment Services, which infrastructure, coupled with Bitcoin Suisse’s expertise it’s hoped will normalise the use of Crypto-currency as a payment method. The Fintech Times

The UK banking platform Curve has added Google Pay functionality, joining the recently enabled Samsung Pay. Curve allows users to unite all their cards, real and virtual, under one umbrella. In practical terms this will allow customers to use their Android smartphones and watches to pay using the Curve app anywhere that accepts Google Pay, even where their own banks don’t support Google’s digital wallet. Techcrunch

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Mastercard is making a play for Fintech companies’ business with their new platform Fintech Express. Partners in the new scheme will get access to digital solutions tailored to the needs of the Fintech arena, taking advantage of Mastercard’s experience, tested technologies and commitment to regulatory standards. Their first partner was the world’s largest local payment network, Rapyd, and the scheme’s initial benefits will shortly see them licenced as a Mastercard issuer. Finextra

Blockchain technology has applications away from its Crypto-currency origins and new businesses are springing up with the blockchain at their core. Unalterable transactions can eliminate the need for costly audit trails, enable end-to-end tracking of goods and automated transactions means businesses can process payments faster and with greater security than through traditional approval methods. Insurance, finance and shipping are all seeing the potential benefits of the streamlined processes the blockchain promises. Inc42

TMR have released their market intelligence report on the current state of the Fintech Blockchain Market, identifying trends through to 2026.  This tool will help strategic planning around the Fintech market, including areas of greatest potential revenue growth. It provides a SWOT analysis of the key players in the market as it stands, of use to businesses looking for investment opportunities and planning future Fintech partnerships. The Finance Time/

US Fintech Dave Inc has expanded its overdraft-avoiding expense tracker app and has launched Dave Banking, which has seen a massive uptake with 1 million people on its waiting list. The original app built a loyal user base, allowing Dave Banking to take on 12,000 new customers a month with a minimum of additional marketing. Dave aims to be a “friend in your pocket”, giving an alternative to customers who might otherwise approach friends and family for loans to avoid large overdraft fees from traditional bank accounts. LA Business Journal

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About the Author

Jason Hulott is Business Development Director at Digital Marketing Specialists, Speedie Consultants. He is Google Partner certified. His role is to identify and implement traffic generating and revenue increasing ideas for our client base.