Global News

2 USA

US banks to become climate compliant

A new US administration means US banks will submit to climate change and climate risk regulations, a new report suggests. Data shows exposure to the associated risks could lead to destabilisation.

1 LATIN AMERICA

Nubank valued at $25bn

A recent US$400m Series G funding round means Nubank has become one of the most valuable digital banks ever, valued at $25bn. The startup was a small venture when it launched in 2013 small startup in São Paulo, 2013, offering a credit card with no annual fee and completely controlled by the app.

3 INDONESIA

SME ecommerce Startup Ula assists small business owners in Indonesia

Ula is a Jakarta-based fintech that provides services that enable small businesses to thrive in the Indonesian marketplace. So far it has raised $35m in funding rounds to empower independent business owners and streamline their services. 5 UNITED KINGDOM

Challenges for Monzo

Is the UK’s leading challenger bank suffering from business model failings? New evidence from Global Data seems to suggest it could be. Experts seem to think that states that Monzo’s has a lack of focus on revenue-generating activities – which could cause problems for the future.

4

EASTERN EUROPE

Latvian Nordigen launches free API services

The Latvian startup is the first fintech to offer free API services, to overcome one of the major obstacles in the potential of open banking, namely the expense of harnessing raw data. The move could enable millions of new customers to access credit services

6

CHINA

Amnesty International to halt India operations

China’s regulations for fintechs tighten following Ant Group’s attempted public offering and subsequent removal of the corporation’s IPO. The new regulations would force fintechs to adhere to the same lending regulations as banks.