Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [March 03, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. HKMA of Singapore: increasing risk management of telecommuting

On March 2, 2021, the monetary authority of Singapore (MAS) and the Banking Association of Singapore (ABS) jointly published a paper entitled “risk management and operational flexibility in teleworking environment”. The article points out that in view of the development of COVID-19, the long-range or mixed mode of office will exist for a long time. Financial institutions must strengthen the management of related risks (technology, anti fraud, laws and regulations). This paper suggests that the relevant institutions should always maintain awareness of the potential risks of telework, share and encourage the use of risk reduction measures.


[2]. Indonesia’s payment start-up xendit gets $64.6 million in financing

Recently, xendit, an Indonesian payment maker, announced that it had received US $64.6 million in round B financing. Accel is the leading investor in this financing, and Y combiner is the participant. Headquartered in Jakarta, xendit mainly provides digital payment infrastructure services for enterprise customers in Indonesia, the Philippines and other Southeast Asian regions, with a total financing of US $88 million since its establishment.

[3]. The founder of Wework has settled with Softbank and will leave the company with $480 million

On February 27, it was reported that Wework, its co-founder and former CEO Adam Neumann, had reached a legal settlement agreement with Softbank group, a major shareholder. That means Softbank will take full control of Wework and Neumann will leave the company. Neumann will cash out about $480 million by selling Wework shares to Softbank, according to people familiar with the matter.

[4]. Codat, a business data service platform, won strategic investment from PayPal Ventures

On March 2, 2021, UK start-up codat announced the strategic investment jointly provided by PayPal ventures and American Express ventures. The total amount of investment was not disclosed. Codat was founded in 2017 by Peter Lord, CEO, Alex Cardona, COO and David Hoare, CTO. Codat uses API to directly link the system software of small enterprises, allowing banks, financial technology institutions and other financial service providers to obtain real-time data information within the scope of authorization, reducing the tedious links of sending excel and PDF by e-mail, and improving the efficiency of data flow between institutions. In June 2020, codat received $10 million in venture capital from Index Ventures.

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