Market Overview

Fintech Focus For September 23, 2020

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Quote Of The Day: Hope is a good breakfast, but it is a bad supper. - Francis Bacon

Fintech Movers: Consumers continue to reject legacy banking bill-paying platforms, which are perceived as inefficient. In most cases, they prefer making payments directly to service providers. - BillGO

  • One Finance targets unified banking tech.
  • FinTech Sandbox scales sustainable tech.
  • Refinitiv Wealth boosted AssetMark tech.
  • ITG has added OneTick trade surveillance.
  • Tradeweb expands mortgage trading tech.
  • RavenPack adds visualization via ChartIQ.
  • Dash Financial expected to sell for $700M.
  • Paysend waived money transferring costs.
  • Currencycloud, Tribe partnered on banking.
  • Analyzing 4 fork defense strategies in DeFi.
  • PNC fintech incubator has bought Sentral.
  • Virgin Money makes its debut on Experian.
  • TravelBank, US Bank partner on payments.
  • FitBank, backed by JPM, to expand to US.

Benzinga Global Fintech Awards Spotlight: 

Every year Benzinga, a leading news and data platform, holds the Global Fintech Awards, a day of dealmaking, networking, and recognition in the fintech space.

Ahead of the November 10, 2020 event, this newsletter highlights disruptive innovators working to create positive and diverse change in financial services.

Today's disruptive innovator is Milan Galik, President and CEO at Interactive Brokers.

For a chance to make your mark on the future of innovation and be featured in this newsletter, check out our Global Fintech Awards! To help decide who's leading, join the judges panel.


Watch For This: For Northwest plant breeders and seed savers, warming temperatures due to climate change are a “selection opportunity.” But it’s nearly impossible to select varieties with genetics adaptable to fire. - The Counter

  • USDA’s research arm remains half staffed.
  • Major cities have boosted police spending.
  • Vandal tries to derail an NYC subway train.
  • China’s rejection of Taiwan buffer adds risk.
  • Going Public Season 1 adds a female host.

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Photo taken from Visual Capitalist. 

Market Moving Headline: As consumers face financial uncertainty from decreasing stimulus programs, banks are readying for the wave of delinquencies and defaults. According to NPR, banks are preparing for “an onslaught of defaults in debt.” - American Banker

  • Kraft Heinz unites supply chain, saving $2B.
  • Rising sea levels are increasing credit risks.
  • Singapore, HK banks add hot money flows.
  • October 16 deadline for state vaccine plans.
  • Deutsche Bank closing 20% of its branches.
  • Biden’s tax plan to cost US banks $7B/year.
  • US existing home sales approach old highs.
  • Nikola’s chairman stepped down, stock falls.
  • Fed, Treasury want to aid small businesses.
  • Britain has added 6-month virus restrictions.
 

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