Fintech Daily Briefing

Fintech Daily Information Briefing on [January 21, 2021]

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The following is the Fintech Daily Information Briefing on [January 21, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. The Bank of Japan will start the second phase of CBDC testing in the spring

The Bank of Japan said it would enter the second phase of the pilot program of the central bank’s digital currency (CBDC) this spring. This phase will examine CBDC’s expected performance functions, how to monitor its capital flow, and whether it can be used during offline or possible communication disruption. At the same time, the BoJ has not yet revealed how long the second phase will take, but has said it will follow up the third phase immediately. The third stage is a pilot project jointly participated by private enterprises and consumers, who will actively participate in the actual use test.

[2]. Wealthpilot, Germany’s online wealth management platform, received 8 million euro financing

On January 20, 2021, wealthpilot, a German online wealth management platform, announced the acquisition of 8 million euros in financing, with joint investment by seven, Bayern Kapital, MIG fonds and other institutions. Wealthpilot’s “software as a service” platform can summarize, analyze and draw all the financial information of a single customer, regardless of asset classes and financial institutions. Financial advisors can then use the data display, which includes assets in real estate, equity funds, securities accounts, life insurance and deposit accounts, to provide personalized investment advice. At present, more than 8500 banks, insurance companies and wealth consultants have established cooperative relations with wealthpilot. In the future, wealthpilot plans to use this financing to continue to expand its team and product range.

[3]. UK becomes the financing champion of European financial technology industry in 2020

Recently, innovative finance released a 2020 European financial technology investment report. According to the data, in 2020, Europe has accumulated US $9.3 billion in financial technology investment, of which the UK has gained US $4.1 billion through 408 transactions, and Germany, France, Sweden, Switzerland and the Netherlands rank second to sixth respectively. However, there is a relatively large gap between the total amount of financing in Europe and the UK. In the UK, 91% of financial technology investment went to London, and famous digital banks such as revolut and Monzo have become hot investment targets. In addition, although payment services and digital banking are still the major financing plays in the financial technology industry in 2020, the fintech 2.0 era start-ups represented by product construction, open banking and system upgrading have gradually attracted investors’ attention.

 

[4]. Central Bank of India sets up digital loan Supervision Working Group

Digital loans can effectively improve the financial services inclusive, but this process also involves a lot of data security, privacy and consumer protection risks. In order to better regulate online / mobile lending platforms, the Reserve Bank of India (RBI) announced on January 13, 2021 that it would set up a special working group to study all aspects of regulated financial institutions and non regulated digital lending services, so as to prepare for the subsequent regulatory policies. It is reported that the working group plans to submit a review report within three months.

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