Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [February 23, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Application for banking license submitted by brex, a financial service platform for start-ups

On February 19, 2021, brex, a financial services platform for start-ups, announced that it had submitted applications to the Federal Deposit Insurance Corporation (FDIC) and the Utah Monetary Authority (udfi) to open an industrial bank in Utah. It is reported that the nature of the proposed brex bank is a wholly-owned subsidiary of brex, with Bruce Wallace, the former chief operating officer of Silicon Valley Bank, as the chief executive officer. In the future, based on the existing brex financial and business software, brex bank will provide more credit solutions and FDIC protected deposit products to SMEs.

[2]. UK plans to launch financial technology talent visa scheme

London is a famous financial technology center in the world. The headquarters of many financial technology Unicorn start-ups such as revolut and Monzo are all located in London. However, research from Oxford University shows that, affected by the brexit incident, about 500000 EU citizens will leave the UK in 2020, most of them from London, and the financial technology industry will be seriously affected. In order to maintain Britain’s advantage in the financial technology industry, British Chancellor of the exchequer Rishi sunak plans to launch a new visa scheme to help London’s financial technology enterprises attract more talents, the Sunday Telegraph reported. It is reported that the plan was proposed by Ron kalifa, former chief executive of worldplay, and supported by British Prime Minister Boris Johnson.

[3]. Transferwise, a cross-border payment platform, was renamed wise

On February 22, 2021, transferwise, a cross-border payment platform, announced its official name change to wise to help users obtain more comprehensive cross-border financial services. Transferwise, founded in 2010, has grown into a unicorn financial technology company. Recently, according to Sky News, transferwise may conduct an initial public offering in London in 2021.

[4]. Earnix, an Israeli financial technology company, won $75 million in financing, making it one of the “unicorns”

On February 20, 2021, Israel’s financial technology company, earnix, announced that it had received $75 million in financing. The financing was led by insight partners and participated by JVP, vintage partners and Israel growth partners. After the completion of the financing, the value of the platform has exceeded US $1 billion, and it has successfully become one of the “unicorn” start-ups. Earnix mainly provides artificial intelligence software development services to help banks and insurance companies provide more personalized services for users. In 2020, earnix was named “market leader in predictive analysis services in property and accident insurance” by CB insights. Currently, earnix has offices in North America, Europe, Asia Pacific and Israel. After the completion of this financing, earnix will further expand new markets, actively increase product innovation and expand the staff team.

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