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Motive Partners - Sunday Brainfood

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May 12 · Issue #143 · View online
Brainfood
Quotes of the Week
The UK leads the world in FinTech. According to the Tech Nation UK Tech on the Global Stage 2019 Report, UK high-growth FinTech firms attracted £4.5bn in investment between 2015 and 2018, placing the UK as the leader on the global stage. When it comes to attracting investment, FinTech also ranks as the UK’s top technology vertical.
 
Commenting on the report, Eileen Burbidge, Chair of Tech Nation: “The UK has an incredibly pivotal role in the global tech scene. Nowhere is this more evident than in the Fintech sector where the UK is ranked number one in the world; an enviable position that has been established with decades of hard work, entrepreneurial talent, innovation and supportive policymakers.”
 
UK Prime Minister, Rt Hon Theresa May MP, adds: “The UK is a global tech powerhouse. I am immensely proud of our country’s ambitious tech scaleups. These companies are delivering significant economic value to the nation through the investment they raise, the jobs they create and the innovative products and services they deliver.” 
Motive Podcasts
Last week, we heard from Tim Levene, serial entrepreneur and CEO of Augmentum FinTech, which is the UK’s only publicly listed FinTech early stage fund. This week, we hear from Alessandro Tonchia, founder of Finantix, a Motive Partners portfolio company that provides a bundled set of solutions and software development tools for financial firms beginning their digital transform journeys.
Our favourite moments
1:39: Financial firms have realised that digital transformation is critical to their survival and have increasingly turned to Finantix to to begin the journey.
07:04: Collaborating with clients is key to ensure they are creating a rich, digital advisor-customer relationship and customer experience by optimising the balance between robo-advisory and human communication.
11:44: How Finantix uses data to understand the your circumstances, aspirations, financial goals, career and media footprint to enable their clients to provide a tailored experience based on your needs.
14:36: Using artificial intelligence in the most targeted and optimal way to save time for our clients.
FinTech of the Week
Our FinTech of the Week is Mercury, a bank built for startups.
What’s the big deal?
Mercury’s aim is to help tech companies scale successfully by providing real-time insight into company finances and practical tools to maximise operational efficiency.

The company was founded by Immad Akhund, Max Tagher, and Jason Zhang and born out of their frustration they encountered with previous business banks.
Immad Akhund, CEO of Mercury says:
“I often found myself unable to figure out basic things about my company, even how much cash I had on hand, without resorting to complicated spreadsheets. The banks we used had great people, but had long ago stopped building an actual product, especially one that meets the needs of startups.”
Mercury’s bank accounts are created with startups in mind; they combine Federal Deposit Insurance Corp (FDIC)-insured checking and savings accounts with tech tools like cash flow analytics, intuitive dashboards, and efficient payments. Startups also receive team debit cards, checking accounts, and savings accounts that generate revenue of deposits.
 “Business needs have evolved and existing banks are not keeping up with that change, technology is outpacing them. We want to be a technology-first bank that actively helps your business succeed.”

Upcoming Industry Events
Financial Services
Fintech is UK's top tech sub-sector
Wells Fargo and Barclays back fintech company OpenFin
ING: Brits wary of new banking tech, despite high demand
Banks to invest around $50 million in digital cash settlement project
FinTech
SoftBank Vision Invests $800 Million in U.K. Fintech Greensill
PE firm BC Partners sells majority stake in Acuris to Ireland's ION
YouTrip raises $25.5 million to expand multi-currency wallet app across Apac
Holvi to launch across Europe
FrankieFinancial signs Australian neo banks to RegTech platform
SDC licenses Tink account aggregation app for use by member banks
Minna Technologies Notches €5.6M In Series A Round
Goldman Sachs makes biggest acquisition in nearly 20 years
Regulation
ECB paper warns of regulatory arbitrage on crypto-assets
Tokyo’s fintech startup accelerator opens for new entrants | FinTech
World Bank and CBA record secondary bond trading on a blockchain
Key Hires
Sponsored by JBM Consulting
Facebook recruits two ex-Coinbase compliance managers
Yoyo announces key sales appointment
Finastra Hires Mark Miller as CFO
M&A Activity
Funding Transactions
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