Fintech Focus For August 20, 2020

Quote Of The Day: Whoever is happy will make others happy too. - Anne Frank

Fintech Movers: There is a large opportunity for Google to leverage its massive direct consumer relationships to attract [banks] to sign up for co-branded checking accounts. For many of the bank and credit union partners, especially some of the smaller ones, this new channel will provide a tremendous opportunity to acquire new customers. - Banking Dive

• FCA approves Archax as an exchange.
• Passfolio expands global trading app.
• JPM, Commonwealth fintech partners.
• Xignite helps SoFi boost engagement.
• Xformative joins Mastercard program.
• Citi invests in data management firm.
• Moov raises $5.5M for banking tech.
• FIS launched new ClearEdge solution.
• NestEgg introduces collaboration tech.
• Levchin eyes new fintech opportunities.
• Gemini taps Eventus for surveillance.
• Crux announces an AWS collaboration.
• Bitfinex launches Secondary Sale tech.

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 Tom Sosnoff, a trader as well as the founder of thinkorswim, tastytrade, and Dough.

For a chance to make your mark on the future of innovation and be featured in this newsletter, check out our Global Fintech Awards!

Watch For This: In the most recent explosion of Bay Area housing prices, some startups made a splash for their remote-only policies, and at least one offered a “de-location package” to incentivize moves anywhere with lower housing costs. - WSJ

• California outages continue amid heat.
• Binance helps bust crypto laundering.
• Albion College fails at contact tracing.
• Report: Trading by professional traders.
• Goodyear sinks, Trump urges boycott.
• Rich flock to Croatia, Turkey in yachts.
• South Sudan runs out of FX reserves.

Market Moving Headline: The rally has more to do with asset inflation, which is fueled by all the liquidity and all the continued support in the economy as well as the weakening dollar. - Patrick Leary

• Maersk lifts profit outlook on U-recovery.
• Barkin: Uncertainty weighs on recovery.
• Zynga the largest mobile game company.
• Trump says Oracle could handle TikTok.
• Oil’s biggest problem remains liquidity.
• Korean tech diverges from the Nasdaq.
• After Coronavirus: Deflation Or Inflation?
• Germany to suspend debt brake in 2021.
• Boeing wins first 737 order since 2019.
• Fed Policymakers: More easing ahead.
• ‘Sharing Economy’: Airbnb filed for IPO.
• Target hits sales record on online surge.