Here we go again. Another week, another fintech roundup.
Ant Group will go with dual listing IPO according to sources
On Monday, Reuters reported that Ant Group (which owns China’s largest digital payment platform Alipay) will kick start its upcoming IPO in both Hong Kong and on Shanghai’s STAR Market.
China's Ant wins Hong Kong nod for $35 billion dual listing: sources
China's Ant Group Co Ltd [IPO-ANTG.HK] has won approval from the Hong Kong Stock Exchange for the offshore leg of its…
It’s important to note that the information is not yet public; but has been confirmed by credible sources.
This should reassure potential investors waiting for the gigantic listing (which coud well break records).
A quarter of personal finance managers in the UK and the Netherlands do not use open banking
A recent report from open banking provider Yolt Technology Services (YTS) revealed that about a quarter of personal finance management (PFM) software in the UK and the Netherlands still utilize manual entry from users to access their accounts or spending data (think screen scraping) rather than modern open banking frameworks.
One in four personal finance managers in the UK and the Netherlands don't use open banking
One in four PFMs in the UK and the Netherlands don't use open banking. And forthcoming regulations against screen…
That number could seem odd given that Europe has been a pioneer in such field with legislation such as PSD2 (and its UK counterpart simply named “Open Banking”).
That being said, “fintech screen scraping” will be banned on December 31, 2020 in the EU and UK due to new regulatory changes. Software providers will need to adapt very quickly to remain compliant.
Consequently, the open banking movement could certainly experience another significant period of growth (let’s not forget there are more than 2 million consumers who use open banking products in the UK alone with an increase of approximately 160,000 users per month).
Hardbacon launches new comparison tools
Montreal area-based Hardbacon, a startup specialized in PFM and investments, is launching tools to compare 447 financial products in seven categories: credit cards, savings accounts, checking accounts, online brokers, robo-advisors, life insurance, mortgages as well as personal loans.
We have launched our new comparison tool and it's free - Hardbacon
Before working for Hardbacon, I had no idea about the amount of work involved in doing "features" on the web or on the…
Like other fintechs, Hardbacon has experienced strong growth during the COVID-19 pandemic (having accumulated 20,000 users according to CEO and co-founder Julien Brault).
The company has come a long way since its inception in 2016 and now feels it can better compete with established Canadian financial product comparison platforms such as Ratehub.