Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [March 31, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Highradius, a software service platform for accounts receivable, received US $300 million in round C financing

On March 30, 2021, highradius, an American financial technology venture, announced that it would obtain US $300 million in round C financing, with a platform valuation of US $3.1 billion. The financing was led by D1 capital and tiger global, with the participation of existing investors ICONIQ growth and Susquehanna growth equity. Highradius was founded in 2006, through artificial intelligence technology, to provide users with automated accounts receivable services.

[2]. Minna bank, Japan’s first digital bank, will be officially put into operation in May

Minna bank is a wholly-owned subsidiary of Fukuoka financial group (FFG). On December 22, 2020, Minna bank announced that it had obtained the banking license issued by the financial department of Japan, and planned to officially put into operation in May 2021. Minna means “everyone” in Japanese. As the first digital bank in Japan, Minna bank is committed to providing users with all-weather account opening, deposit, transfer and other services through the mobile digital platform. The banking system was jointly developed by FFG and Accenture and runs on Google cloud. In the future, Minna bank will not only serve the retail end, but also provide products for third parties who want to use embedded digital services.

[3]. FDIC will hold several data industry webinars in 2021

Nowadays, a large amount of data has brought considerable resources and challenges to policy makers, industry analysts and scholars. On March 17, 2021, the Federal Deposit Insurance Corporation (FDIC) of the United States announced that it would launch a series of online seminars called “banking on data: great potentials, great responsibilities” together with levy business school of Santa Clara University (SCU) in 2021. This series of seminars will focus on the challenges and opportunities brought by the application of big data and other technologies to financial institutions, consumers and the financial system, mainly in the form of academic literature exhibition and policy panel discussion, combined with the scientific and technological forces on the west coast and the regulatory forces on the east coast. It is reported that the first meeting will be held on April 15, 2021, presided over by Jelena McWilliams, head of FDIC, with the theme of “possibilities of big and alternative data in finance and banking”. Future conferences will also focus on machine learning, open banking, financial data regulation and other aspects.

[4]. EU and US financial regulators discuss cooperation on stable currency and digital assets

In a March 29 announcement, the U.S. Treasury Department said that the virtual forum held last week included regulators of European Union and U.S. financial institutions such as central banks, securities regulators and banking authorities. Although climate change and epidemics have long been key areas of global cooperation, these institutions also seem to have raised digital asset regulation as a global priority. “Participants exchanged views on the latest development and regulatory recommendations of new forms of digital payment, including digital assets, stable currency and central bank digital currency,” the Ministry of Finance wrote

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