Fintech Focus For October 18, 2021

Quote To Start The Day: “If you set your goals ridiculously high and it's a failure, you will fail above everyone else's success.”

Source: James Cameron

One Big Thing In Fintech: Amongst the fintechs building easy-to-use, fast, and smart digital banking solutions is Alphabet Inc, an atypical player in the market given that the firm is more of a technology company with core competencies rather than a financial services company.

Notwithstanding, Google’s head of retail banking Zac Maufe told Benzinga, at the MX Technologies Money Experience Summit, the firm would morph into a fintech heavyweight.

Here’s more on Google’s foray into financial services.

Source: Benzinga

Other Key Fintech Developments:

• Voyager added Europe approval.
• WonderFi, DeFi Pulse partnered.
• PersonaFi hones investing offer.
• A16z backing fintech Sequence.
• SumUp has purchased Fivestars.
• Tether is hit with a $41M penalty.
• Zillow pausing home purchases.
• Tiger Global leads M2P Series C.
• FactSet bought Cobalt Software.
• Voyager on top 10 DeFi projects.
• Amazon eyeing fintech additions.
• Sparkle adding $3.1M for fintech.
• HSBC launching post-trade tech.
• Tala adds $145M Series E round.
• Plum added $14M funding round.
• Bakkt will go public on the NYSE.
• Roostify is launching lending API.

Watch Out For This: Los Angeles, California has one of the largest economies in the world, yet is underserved by the hotel market.

That’s according to owner and developer Gary Safady, who spoke with Benzinga about his mission to create a luxury Bulgari Hotels & Resort property in the Santa Monica Mountains.

Read below to find out how Safady is committed to building Los Angeles’ crown jewel.

Source: Benzinga

Interesting Reads:

• 26-year-old owns 1K rental units.
• Bitcoin futures ETF will list today.
• China likely contains Evergrande.
• Disruption of asset management.

Market Moving Headline: “The economy is being supported by robust consumer balance sheets, rebounding business investment and a healthy labor market.”

Source: Hugh Gimber