Happy Thursday!
In this edition:
CPPCC member reiterates necessity in fintech regulation, calls for 'zero tolerance' in violations of laws
The Top 25 Women Leaders In Financial Technology Of Europe For 2021
Monzo backer raises £45m to fund new wave of start-ups
Florida Launches ‘Sandbox’ Program To Boost Startup FinTech Companies
Open Invention Network: Protecting Innovation in Fintech
CPPCC Member Reiterates Necessity in Fintech Regulation, Calls for 'Zero Tolerance' in Violations of Laws
Fintech is essentially a technology-driven financial innovation activity, which should be regulated and licensed to operate. Any "pseudo-innovation" should be severely cracked down on and violations of laws should be treated with zero tolerance, said by Shang Fulin, Standing Committee Member of the Chinese People's Political Consultative Conference (CPPCC) National Committee.
The country's financial regulators have vowed several times to implement new measures to further promote China's financial sector's development including strengthening regulations governing the fintech sector, releasing accurate monetary policies, and further opening up China's financial sector.
The Top 25 Women Leaders In Financial Technology Of Europe For 2021
Europe has seen impressive growth within the financial technology sector over the past year, with the companies represented on this year’s list at the forefront. The 2021 awardees have helped lead their organizations amidst rapid digitalization of the financial industry, an increasingly complex regulatory landscape, rising global competition, and increased consumer demand for digital financial products. They have fully leveraged their expertise across product strategy, marketing, talent acquisition, risk management, business development, and other areas to drive growth for their companies as they bring some of the most innovative financial products to market.
Out of hundreds of nominations, this exceptional group of women leaders was selected based on their career track record and professional achievements as well as their depth of specialized expertise. Many came from prior experience in traditional financial companies, or software and information technology, bringing to bear a valuable combination of insights and competencies that have led to more profound technological development. Moreover, they have aided their companies in developing solutions and services that promote financial inclusivity, ensuring that all have access to more efficient, convenient, and secure alternatives for managing their finances.
Monzo Backer Raises £45m to Fund New Wave of Start-Ups
Passion Capital partner Eileen Burbidge CREDIT: Rii Schroer. A venture capital fund that was one of the earliest backers of online bank Monzo has raised £45m to invest in more British start-ups in a boost for the post-Brexit tech scene.
Passion Capital’s third fund has already made 11 investments according to partner Eileen Burbidge, the former chairman of Tech Nation.
The firm, which backed Monzo in its first funding round in 2015 as well as supporting the business banking app Tide a year later, is still planning to invest in financial technology companies but is not about to buy into a new challenger bank. Ms Burbidge said: “I think it’s unlikely we’d do another banking app. There’s a lot more fintech that we would pursue in other areas, for example more on the enterprise or back-end where it’s less about apps for consumers, about more services for other fintechs or for existing financial services.”