The Fintech Revolution: Where Things Stand Now

The Fintech Revolution: Where Things Stand Now
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  • Much of this year’s surge has been the result of the finalization of two enormous deals — the purchase by the U.S credit-card processing company Vantiv of Worldpay, its British counterpart, for $10.4 billion in January , and a $14 billion funding round by Alibaba affiliate Ant Financial in June, making Ant, at $150 billion, more valuable than Goldman Sachs ($88 billion) .
  • They include, most notably, artificial intelligence/machine learning and digital ledger technology (DLT), as well as cybersecurity and data security.
  • Goldman Sach, BNP Paribas and JPMorgan Chase have also been active.
  • A trade finance application using technology from the DLT startup R3 was adopted by 11 international banks in August 2017: Bangkok Bank, BBVA, BNP Paribas, HSBC, ING, Intesa Sanpaolo, Mizuho, RBS, Scotiabank, SEB and U.S. Bank.
  • One report mentioned a particularly promising startup steeped in blockchain known as Skuchain , which since 2016 has been focusing on the cotton market while working in concert with Commonwealth Bank and Wells Fargo.


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