Fintech Focus For August 26, 2020

Quote Of The Day: Nobody wants to fly across the country for a two hour meeting when you can do it just as well on Zoom. - James Altucher

Fintech Movers: The main challenge Central American fintech faces is a lack of tech infrastructure and knowhow. That’s why social impact funds are important players here. IDB Invest recently poured almost US$40 million in a debt round into Cuscastlan which elsewhere may have been covered by the market. - Contxto

• Schwab intros model portfolio tech.
• Visa wins Plaid takeover approval.
• Xero moves into business lending.
• Artis secures $1.5M for lending tech.
• ConsenSys acquires JPMs Quorum.
• Standard Chartered hones banking.
• Mosaic readies mobile data analytics.
• Citi, Wells Fargo invest in digital ID.
• Copper raises $4M for teen banking.
• Global 66 will scale remittance tech.
• Spence sets a standard in payments.
• Frollo publishes its product data APIs.
• Perpetual Protocol closed $2M round.
• RobustWealth streamlines investing.
• dYdX intros LINK perpetual contracts.
• Afterpay eyes Europe on $82M deal.
• Quant Data intros low-cost orderflow.
• Nasdaq files for direct market listings.

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 Fidelity, a holistic provider of wealth management and investing tools.

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: The coronavirus has intensified a pre-existing debate about the future of megacities, and whether the concentration of so much population and economic activity in a few large centres is desirable. - Reuters

• Avalon.ai raised $1.5M for data tech.
• Challenger banks rush on reporting.
• Banking internships during COVID.
• How to capitalize on the DeFi craze.
• Streamlining supply chains via DLT.
• The necessity for risk factor models.
• USDA doubles down on free lunches.

Market Moving Headline: One measure with mixed indications: job listings on Indeed.com, which are down 20% from 2019. While that figure deteriorated from the prior week for the first time since May, it’s improved considerably from its pandemic trough, when it was 39% lower. - Bloomberg

• Some economic indicators V-shaped.
• Equity market liquidity still improving.
• Cboe sees good interest in mini VIX.
• Key investment trends for post virus.
• BoA’s remarks on dollar debasement.
• Judge: Apple can’t cut Unreal Engine.
• Apple acquires a VR startup, Spaces.
• Asana files to go public on the NYSE.
• American Airlines will cut 19,000 jobs.
• Goldman: Overwriting may outperform.
• The US, China reaffirmed trade deal.
• Germany: EV market share now 11%.