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The London Eye, the Big Ben clock tower and the City of London financial district are seen from the Broadway development site in central London, Britain, August 23, 2017. 

Hannah McKay | Reuters

London has beaten New York in luring the largest amount of fundraising deals for financial technology companies so far in 2019, fresh research shows.

The U.K. capital’s fintech sector attracted a total of 114 deals worth a record $2.1 billion in the first eight months of the year, according to figures shared with CNBC by industry group Innovate Finance and Mayor of London Sadiq Khan’s promotional agency London & Partners. 

While San Francisco still tops London in terms of total deal value —start-ups in the Californian city raised $3 billion — outfits in the U.K. capital won the most amount of funding rounds, the study said. New York firms snagged 101 fintech deals while San Francisco saw 80.

London also came out $200 million ahead of New York on total deal value, with fintech firms in the U.S. city having raised $1.9 billion. That was followed by Belgium at $881 million and Stockholm at $735 million.

The research was compiled using data from private capital markets research firm Pitchbook.

Charlotte Crosswell, CEO of Innovate Finance, said the development revealed a step change within London’s fintech industry, with the likes of Monzo and OakNorth attracting huge nine-figure mega rounds.

“Generally what you’re seeing is a maturing of the sector,” Crosswell told CNBC in an interview. “The numbers of deals are coming down slightly but the size is going up. That’s very natural and we would expect to see that as companies are becoming more successful and scaling globally as well.”

The U.S. is still easily home to the largest fintech market in the world, with start-ups in the country having raised nearly $9.4 billion so far this year.

But local industry executives argue that Britain and the rest of Europe are ahead of the curve when it comes to innovation in the financial services industry, as well as the adoption of new fintech apps and contactless payments.

“There is much more advanced competition in the U.K.,” Shachar Bialick, co-founder and CEO of fintech firm Curve, told CNBC. “In Europe it’s significantly higher than the States. The U.S. is very much behind when it comes to new fintech technologies.”

The U.K. is home to a flood of new banking challengers which have gained popularity by offering customers little more than an app and debit card. The so-called “challenger bank” model has helped upstarts draw in millions of users, with Revolut having recently hit over 7 million users and Monzo hitting 3 million. Revolut is seeking to raise a fresh round of funds later this year.

WATCH: A lot of opportunity in the UK market, fintech CEO says

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Alibaba Group thwarts 300 million hack attempts per day

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Alibaba’s company logo at its office in Hong Kong on February 22, 2012.

Aaron Tam/Stringer | Getty Images

Chinese technology giant Alibaba Group is the target of some 300 million attempted cyber attacks per day, according to the company’s founder and former executive chairman, Jack Ma.

Ma said he was “proud” that despite the tirade of subterfuge, Alipay — the group’s payments arm which reports close to 1 billion users and processes $50 billion worth of transactions per day — has yet to lose “one cent” to hackers.

“For Alibaba Group, we have over 300 million hacking attempts per day. Every day. But we deal (with) it. We don’t have even one problem,” Ma said at the Forbes Global CEO Conference in Singapore on Tuesday.

By way of contrast, embattled Chinese technology giant Huawei is subject to around 1 million daily cyberattacks, according to its security chief. Until now, other technology companies have been less forthcoming in revealing their cyber attack vulnerabilities.

Give my data to a machine. I trust a machine more than (I) trust people.

Jack Ma

Alibaba founder and former executive chairman

Alibaba faced a sweeping cyber attack attempt in February, which threatened to compromise the accounts of 20 million users on its Taobao e-commerce site. The company said it detected the attack “in the first instance.”

Ma cited the company’s advanced tech capabilities, which he dubbed “AI: Alibaba Intelligence,” for its continued success rate, noting that machines are superior to humans in using logic to thwart malicious online behavior.

“We teach the machine all the ways people (are) cheating,” said Ma. “The machine remembers over millions of ways of cheating, so when we start the cheating, (the) machine already knows you are cheating. In this way we are protecting all the technology.”

Jack Ma (right), co-founder and former executive chair of Alibaba Group, speaks next to Steve Forbes (left), chairman and editor-in-chief of Forbes media, during the Forbes Global CEO Conference in Singapore on October 15, 2019.

Roslan Rahman | AFP | Getty Images

To achieve that degree of accuracy, however, Ma noted the company must collect vast swathes of customer data. He argued that doing so allowed Alibaba to develop safeguards to detect bad human actors.

“Give my data to a machine,” said Ma. “I trust a machine more than (I) trust people.”

“I give my data to people, I worry about that. People say ‘ah, this is Jack Ma, I want to know about him.’ Machine(s) don’t care if you’re Jack Ma or Jack Lee. Machine cares whether you do good things or bad things.”

Ma retired from Alibaba last month, 20 years after the company’s founding. At the conference in Singapore, he was honored with the Malcolm S Forbes Lifetime Achievement Award for his “outstanding” contributions to entrepreneurship.

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Hong Kong leader Carrie Lam annual policy address interrupted

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Hong Kong’s Chief Executive Carrie Lam leaves her annual policy address due to disruptions by pro-democracy lawmakers in the Legislative Council on October 16, 2019.

Anthony Wallace | AFP | Getty Images

Pro-democracy lawmakers shouted at Hong Kong embattled leader Carrie Lam on the floor of the legislature as she was set to deliver her annual speech on Wednesday.

Lam’s remarks were initially suspended amid disruption. As she was set to begin her address a second time, pro-democracy lawmakers interrupted her and some even threw objects at her. 

The proceedings were adjourned as the six democratic lawmakers were escorted out of the room. Lam also left the legislature’s chambers.

Lam was set to formally withdraw the extradition bill that sparked nearly five months of sometimes violent protests in the city.

She was expected to also focus on land and housing initiatives in a bid to restore confidence in the city’s future after months of anti-government protests that have crippled the city and dampened investor sentiment in the Asian financial hub.

Pro-democracy lawmakers wearing masks with the image of Chinese President Xi Jinping disrupt proceedings during the annual policy address of Carrie Lam on October 16, 2019.

Anthony Wallace | AFP | Getty Images

The semi-autonomous city battles to overcome its greatest political turmoil since 1997, when the former British colony was handed over to China. Hong Kong now operates under the “one country, two systems” principle, in which Beijing grants Hong Kong citizens financial and legal independence from the mainland.

This is breaking news. Please check back updates.

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US charges Turkish bank tied to Giuliani client with evading sanctions

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People walk past a branch of Turkish bank HalkBank in Istanbul, Turkey.

Chris McGrath | Getty Images

Federal prosecutors in New York announced charges on Tuesday against a Turkish bank with ties to a gold trader connected to Rudy Giuliani, accusing the financial institution of a multi-billion dollar scheme to evade U.S. sanctions on Iran.

The six-count indictment for fraud, money laundering and sanctions offenses comes a year after a former executive at the bank, Mehmet Hakan Atilla, was sentenced to prison for working with international gold trader Reza Zarrab, whom Giuliani has represented, to hide transactions involving Iran.

“As alleged in today’s indictment, Halkbank’s systemic participation in the illicit movement of billions of dollars’ worth of Iranian oil revenue was designed and executed by senior bank officials,” U.S. Attorney Geoffrey Berman said in a statement.

“The bank’s audacious conduct was supported and protected by high-ranking Turkish government officials, some of whom received millions of dollars in bribes to promote and protect the scheme,” he said.

Giuliani’s involvement with Zarrab has recently been in the news. The former New York mayor, along with Turkish President Recep Tayyip Erdogan, had pressed President Donald Trump to drop a case against Zarrab after he was detained during a trip to the U.S. in 2016, Bloomberg reported last week.

Zarrab ultimately pleaded guilty and agreed to cooperate with prosecutors in the case against Atilla.

Bloomberg also reported that, in 2017, Trump asked then-Secretary of State Rex Tillerson to get the Justice Department to drop Zarrab’s case. Tillerson refused, according to the outlet.

Giuliani’s attempts to influence American foreign policy have come under scrutiny in recent weeks also in connection to Ukraine.

In the whistleblower complaint that spurred Democrats’ impeachment efforts, Giuliani was accused of being a “central figure” in Trump’s July 25 request that Ukraine President Volodymyr Zelensky “look into” unsubstantiated corruption allegations against former Vice President Joe Biden and his son Hunter.

A representative for Giuliani didn’t immediately respond to a request for comment.

Markets blow off US sanctions

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