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Fasanara Bi-Weekly Digest



Top 25 Women Fintech Leaders, Zero Tolerance, Monzo Invests £45m, Florida's Sandbox & Other News

Happy Thursday!

In this edition:

  • CPPCC member reiterates necessity in fintech regulation, calls for 'zero tolerance' in violations of laws

  • The Top 25 Women Leaders In Financial Technology Of Europe For 2021

  • Monzo backer raises £45m to fund new wave of start-ups

  • Florida Launches ‘Sandbox’ Program To Boost Startup FinTech Companies

  • Open Invention Network: Protecting Innovation in Fintech


CPPCC Member Reiterates Necessity in Fintech Regulation, Calls for 'Zero Tolerance' in Violations of Laws

Fintech is essentially a technology-driven financial innovation activity, which should be regulated and licensed to operate. Any "pseudo-innovation" should be severely cracked down on and violations of laws should be treated with zero tolerance, said by Shang Fulin, Standing Committee Member of the Chinese People's Political Consultative Conference (CPPCC) National Committee.

The country's financial regulators have vowed several times to implement new measures to further promote China's financial sector's development including strengthening regulations governing the fintech sector, releasing accurate monetary policies, and further opening up China's financial sector.

The Top 25 Women Leaders In Financial Technology Of Europe For 2021

Europe has seen impressive growth within the financial technology sector over the past year, with the companies represented on this year’s list at the forefront. The 2021 awardees have helped lead their organizations amidst rapid digitalization of the financial industry, an increasingly complex regulatory landscape, rising global competition, and increased consumer demand for digital financial products. They have fully leveraged their expertise across product strategy, marketing, talent acquisition, risk management, business development, and other areas to drive growth for their companies as they bring some of the most innovative financial products to market.

Out of hundreds of nominations, this exceptional group of women leaders was selected based on their career track record and professional achievements as well as their depth of specialized expertise. Many came from prior experience in traditional financial companies, or software and information technology, bringing to bear a valuable combination of insights and competencies that have led to more profound technological development. Moreover, they have aided their companies in developing solutions and services that promote financial inclusivity, ensuring that all have access to more efficient, convenient, and secure alternatives for managing their finances.

Monzo Backer Raises £45m to Fund New Wave of Start-Ups

Passion Capital partner Eileen Burbidge CREDIT: Rii Schroer. A venture capital fund that was one of the earliest backers of online bank Monzo has raised £45m to invest in more British start-ups in a boost for the post-Brexit tech scene.

Passion Capital’s third fund has already made 11 investments according to partner Eileen Burbidge, the former chairman of Tech Nation.

The firm, which backed Monzo in its first funding round in 2015 as well as supporting the business banking app Tide a year later, is still planning to invest in financial technology companies but is not about to buy into a new challenger bank. Ms Burbidge said: “I think it’s unlikely we’d do another banking app. There’s a lot more fintech that we would pursue in other areas, for example more on the enterprise or back-end where it’s less about apps for consumers, about more services for other fintechs or for existing financial services.”

Florida Launches ‘Sandbox’ Program to Boost Startup FinTech Companies

A limited government think tank in Tallahassee is out with a report that examines how Florida lawmakers can expand ‘regulatory sandboxes’ to boost business innovation in the state. Think of a regulatory sandbox the same way you think of a real sandbox where kids make friends and learn life lessons.

“It's a defined environment where you can experiment and play, if you will. But Mom and Dad, the regulators are watching not far away,” says Andrea O'Sullivan, director of the Center for Technology and Innovation at the James Madison Institute (JMI).

Regulations can constrain businesses in many ways: maybe the company has to be licensed, has to pay fees, or must be audited periodically. Such requirements could serve as a barrier to a company’s entry into the market.

Florida lawmakers last year followed the lead of their counterparts in the U.K. and approved a similar sandbox program. It’s designed to help fledgling FinTech businesses begin operations with less government oversight than usual. The program launched in January

Open Invention Network: Protecting Innovation in Fintech

Fintech is an ever-growing industry that’s always keen to create and innovate technology to solve problems. This is particularly true of regtech, which exists to help financial services firms to stay compliant with regulation and manage their risks easier, freeing up employees for other things. However, patent lawsuits may be the downfall of certain fintechs, due to the sheer number of patents that exist in the industry.

The financial services industry has always been a strong supporter, and adopter, of new technologies that improve compliance, lower operating costs and better manage risk, among other benefits. Until the mid-2000s, it was cost-prohibitive for new market entrants to break into the financial services industry. Large, well-established banking, financial service and insurance (BFSI) companies had advantages in size – strong compliance systems to manage constantly changing regulations, a large and established client base, strong networks and the financial resources to withstand challenging economic conditions.


Thank you for the time!


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