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The week in review – March 30

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Revolut launches its neobank in the US
– Startup Funding Dwindles Due to Coronavirus Slowdown
– Regulators Issue Inter-agency Statement on Loan Modifications, Banks Urged to Issue More Small-Dollar Loans in Response to Outbreak
– Cash usage in Britain drops by half

The week in review – March 23

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– ICE’s Bakkt raises $300 million for consumer market push
– Kabbage launches platform enabling consumers to buy gift certificates supporting small businesses during the COVID crisis
– Fiserv acquires Bypass Mobile to enhance its omni-commerce offering
– Square receives conditional Industrial Loan Company (ILC) charter approval, looks to offer small-business loans to Square merchants by 2021

The week in review – March 16

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– BBVA’s Open Innovation unit alters its approach to fintech partnerships
– Sequoia Capital stumbles with its Finix investment, backs out over Stripe conflicts
– Credit Sesame launches a digital banking service focused on improving credit scores

Need Another Bracket? Atlanta Inno’s Tech Madness is Underway

One of the keys to innovation is the savvy to ride a powerful marketing wave, and the folks at Atlanta Inno have found a great vehicle. Voting is already underway for its annual Tech Madness bracket challenge, pitting 32 Atlanta startups against one another in a friendly competition decided by reader vote.

Six of this year’s 32 companies are included on TAG FinTech’s ecosystem map (and I see at least two more we should probably add), a testament to the prominence and growth of FinTech in Atlanta’s thriving tech scene.

The process is decidedly unscientific, which can …

Georgia-Based FinTech Companies Recognized at TAG Summit Technology Awards

At the 2020 Technology Association of Georgia (TAG) Summit, one of the largest technology conferences in the Southeast, TAG announced two award groups that recognized Georgia-based technology companies for their innovation, financial impact, and their efforts at spreading awareness of the state’s technology initiatives throughout the U.S. and globally. What’s key here is that about one-third of the award winners are members of the dynamic and growing FinTech community.

The week in review – March 9

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Kabbage Launches Kabbage Insights™, A Small Businesses Cash Flow Management Tool
– Facebook Weighs Libra Revamp to Address Regulatory Concerns
– Robinhood Trading Site Seizes Up, Customers Miss Stock Rally
– Ant Financial buys a stake in Swedish fintech leader Klarna

The week in review – March 2

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Platform Banking Provider Agora Services is Securing $2 Million in Funding and Opens Headquarters in Atlanta
– Venmo prototypes a debit card for teenagers
– Intuit to Acquire Credit Karma
– Fast-growing digital bank Revolut triples valuation to $5.5 billion

The week in review – February 24

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Atlanta-Based OneTrust Raises $210 Million, More Than Doubles Valuation To $2.7B
– LendingClub to acquire Radius Bank, the first example of a FinTech buying a bank
– CB Insights declares 2019 the year of the fintech inflection

The week in review – February 17

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– InComm Launches Go Studio™, an Emerging Technologies Incubator
– Varo Moves Closer to Becoming a Bank
– Fintech startup Ramp aims to disrupt the corporate credit market
– Payments Tech Provider Toast Raises $400 Million at $4.9 Billion Valuation

Always a Busy Season for Atlanta FinTech – Introducing Our Events Calendar!

The spring and fall months tend to be the most active for industry conferences, and 2020 is no exception. Players in a FinTech scene as vibrant as Atlanta’s shouldn’t have to get on a plane- or wait out the seasons- to network or engage in thought leadership, though. A quick scan of the local calendar proves that’s indeed the case.

Organizations like the Technology Association of Georgia (TAG) have provided plenty of such opportunities for some time, with more events being added constantly as awareness and interest in FinTech continues to expand. There’s so much activity it can be …

The week in review – February 10

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Intercontinental Exchange Announces Agreement to Acquire Atlanta Loyalty Program Provider Bridge2 Solutions, Combine with Bakkt
– Payments giant Worldline to buy Ingenico (whose US headquarters are in Metro Atlanta) in $8.6 billion deal as fintech competition heats up
– Visa Plans the Biggest Changes to Its Merchant Fees in a Decade

The week in review – February 3

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Atlanta-based Trust Stamp Earns Strategic Investment from Mastercard
– UPS And Square Collaborate To Offer Integrated SMB Shipping Solution
– Goldman Sachs Touts Digital Banking Plans at Investor Day
– Subway Inks Payments Deal With Adyen for North America

The week in review – January 27

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Cash, Plastic or Hand? Amazon Envisions Paying With a Wave
– Global central banks partner up to explore digital currencies
– Canapi Ventures Launches Inaugural $545 Million Fintech Venture Fund
– New York City Stores Must Accept Cash, Council Says

The week in review – January 20

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– Visa to Buy Plaid for $5.3 Billion in Bid to Reach Startups
– Approval of Sezzle’s California Lending License
– SunTrust successor Truist rolls out new purple brand design and logo

The week in review – January 13

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– California governor to unveil plan for state CFPB
– Mastercard launches augmented reality app that brings card benefits to life
– BBVA explores product sales via Amazon
– Goldman’s consumer unit Marcus still accounts for only a small sliver of profits

The week in review – January 6

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– The California Consumer Privacy Act officially takes effect
– JPMorgan to ban fintech apps from using customer passwords
– Australia delays Open Banking roll out over security concerns

The week in review – December 27

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. This week’s headlines include:
– NCR has acquired UK-based Zynstra, a provider of edge virtualization technology
– The Fed released the 2019 Federal Reserve Payments Study, the seventh in a series of triennial studies
– Mastercard announced that it is acquiring RiskRecon, a provider of artificial intelligence and data analytics
– TD Bank is working with Visa to offer its US customers the ability to send money to their bank account at TD Canada

The week in review – December 20

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. Enjoy!

This article is courtesy of Blue Leviathan. The original can be seen at https://www.blueleviathan.com/the-week-in-review-95/

Citi and PayPal expand partnership to institutional payments

Citi and PayPal have expanded their partnership to enable Citi’s institutional clients to make payments into customers’ PayPal digital wallets; under the extended arrangement, Citi’s clients will be able to pay directly into PayPal digital wallets via Citi’s WorldLink cross-border payments platform.

https://www.finextra.com/pressarticle/80955/citi-and-paypal-expand-partnership-to-institutional-payments…

The week in review – December 13, 2019

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. Enjoy!

This article is courtesy of Blue Leviathan. The original can be seen at https://www.blueleviathan.com/the-week-in-review-94/

Goldman plans to bring wealth management to the masses

Goldman Sachs plans to offer a digital wealth management service next year to individuals with a minimum investment of $5,000; customers would have access to a robo adviser being developed by United Capital, a wealth management firm that Goldman acquired.

https://www.ft.com/content/56eb2fa8-1931-11ea-97df-cc63de1d73f4

The week in review – December 9, 2019

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. Enjoy!

This article is courtesy of Blue Leviathan. The original can be seen at https://www.blueleviathan.com/the-week-in-review-93/

The 2018 Diary of Consumer Payment Choice

The Fed released the 2018 Diary of Consumer Payment Choice (DCPC), the fifth in a series of diary surveys that measure payment behavior; results show that in October 2018, consumers made more payments with debit cards than with any other payment instrument (28% of …

Last Chance: “FinTech – Life after the Mega-Mergers” Panel in Atlanta

Registration closes today for an excellent lunch panel discussion on the impact of 2019’s three major payments industry mergers on the FinTech ecosystem in Atlanta and beyond. Join us from 11:30am-1:30pm on Friday December at Maggiano’s Buckhead.

Early 2019 brought three major mergers (Fiserv/First Data, FIS/Worldpay, Global Payments/TSYS) that dramatically altered the FinTech landscape. All six of these companies have significant Georgia presence. Now that the deals have closed, our experts will discuss their projected impact across many angles.

We’ve assembled a top-shelf panel that’s uniquely qualified to share insights from a variety of perspectives- talent acquisition/development, venture …

The week in review – December 2, 2019

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. Enjoy!

This article is courtesy of Blue Leviathan. The original can be seen at https://www.blueleviathan.com/the-week-in-review-92/

Here are the new and noteworthy payments stories we have been following this week.

India’s financial services firm Paytm raises $1B

Paytm has raised $1 billion in a new financing round led by T. Rowe Price with participation from existing investors, Ant Financial, Softbank, and Discovery Capital; the new funding …

The week in review – November 25, 2019

Each week TAG FinTech Steering Committee member Ali Raza compiles a list of newsworthy events impacting the payments ecosystem. He has graciously agreed to allow us to report his thoughts going forward. Enjoy!

This article is courtesy of Blue Leviathan. The original can be seen at https://www.blueleviathan.com/the-week-in-review-91/

Here are the new and noteworthy payments stories we have been following this week.

Elavon to acquire Sage Pay for £232 million

Atlanta-based Elavon is acquiring Sage Pay, a payments gateway business for £232 million, further expanding in the UK and Ireland; Sage Pay focuses on the SMB sector and …

Real Estate Study Highlights Tech’s Prominence in Atlanta’s Ecosystem

Fintech Investments Continue to be Strong

When you look at the investment growth statistics of the fintech markets across the globe, one thing really stands out – funding is plentiful.

According to an Accenture February 2019 report, “Global investment in financial technology (fintech) ventures more than doubled in 2018, to US $55.3 billion, led by a surge in funding in China and strong gains in several other markets as investors placed larger bets in more mature startups. On a global basis, much of the growth was due to a nine-fold increase in the value of deals in China, to US $25.5 billion – nearly as …

Global FinTech Adoption: A Tale of Three Trajectories

Adoption of FinTech is gaining momentum worldwide, having grown from 16% in 2015 to 33% in 2017 and 64% in 2019 according to Global FinTech Adoption Index 2019, a recently issued report by advisory firm EY.

EY’s primary research served as the backdrop for a September 26 discussion on global FinTech adoption held at the Federal Reserve Bank of Atlanta and co-sponsored by the Brazilian American Chamber of Commerce Southeast. The lively, interactive two-hour conversation was led by a stellar panel composed of Glen Sarvady, Principal at 154 Advisors; Rodrigo Dantas, Principal at EY; Wayne Johnson, Partner at …

Taking on Financial Inclusion and Wellness

FinTech Atlanta’s fifth “Run it by the Buyers” event focused on a particularly hot topic – Financial Inclusion and Wellness. As befitting such a top-of-mind issue, the session drew an even larger working group than usual to the offices of Atlantic Capital Bank in Buckhead.

Run it by the Buyers events, organized by FinTech Atlanta’s Fund & Innovate workgroup, convene large Georgia-based corporations and early/mid-stage fintech companies around a particular industry theme. The stated intent is to focus on key industry issues, opportunities, and challenges, with the goal of fostering commercial collaboration between large corporations (“Buyers”) and promising young …

Cardholder Experience in the Wake of Apple Card

Well, Apple has done it again. In true Apple fashion, the Cupertino firm has not necessarily invented anything new so much as redefined the standard in a space that we are all acutely familiar with – credit cards. Through their dedication to minimalism and an entirely mobile end to end process they seem to have completely altered consumer expectations as to what the credit card experience should be. And I think we can all expect an increasing demand for this type of experience as a result.

The ability to apply for a card in-app and be approved in minutes …

Have Your Initial Blockchain Projects Yielded Positive Results?

According to Gartner Group, blockchain technology has entered the “Trough of Disillusionment.” Kind of sounds bad doesn’t it? Just as we’re getting our minds around how blockchain can be used for other business applications than cryptocurrency, the technology hits the trough.

Gartner’s Hype Cycle defines the Trough of Disillusionment as the point at which “interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.”

The Trough of Disillusionment is not nearly as bad as it …

Primed for FinTech Success in a Post-Amazon World

TAG’s Fintech Society recently hosted a Lunch & Learn event featuring a panel titled “Financial Services in a Post-Amazon World,” focusing on the impact disruptors like Amazon have had on financial services and changed user expectations over the past 15 years.

The session was held at the Perimeter location of ROAM’s co-working space; the panel was moderated by Terry Ammons, partner at accounting and advisory firm Porter Keadle Moore. He was joined onstage by Robert Skiba, executive vice president at prepaid retail card leader InComm, Matt Reiner, co-founder and CEO of digital financial advisor assistant Wela, and JR Llewellyn, …