FinTech Report 2018

We have the pleasure to present yet another issue of Setterwalls’ FinTech Report, in which members of the Setterwalls FinTech team comment on hot topics in relation to the sector.

As we look back, we can conclude that FinTech is here to stay as a vital sector to which entrepreneurs and investors are drawn. The media are reporting on current events; for example it was recently disclosed that PayPal purchased iZettle for nearly USD 2.2 billion, and Enkla is challenging traditional banks with loans provided through a digital platform with substantially lower costs and low interest rates for consumers that are unlike anything that has been offered before. Thus, we have seen a significant reduction in barriers to entry and explosive growth in customers’ digital demands and expectations.

We hope you enjoy our articles on (i) Blockchain – When legislation and regulation can be a competitive tool, (ii) Reforming data access – an opportunity to win, (iii) Blockchain – How can the technology be harnessed to tackle money laundering and terrorism financing, (iv) as well insights into the FinTech market from the perspective of the crowdfunding company FundedByMe and its CEO, Daniel Dabozy.

Last but not least, we are taking this opportunity to invite you to our next Setterwalls FinTech Forum on 15 November 2018.

We hope you enjoy the our Setterwalls FinTech Report and the articles.

Yours sincerely,
Joacim Johannesson, partner, member of Setterwalls’ FinTech team

Blockchain – When the legislation and regulation can be a competitive tool
New technology and new technological advances often entail new business op-portunities and challenges. The ongoing digitisation with the Internet as a public communications network creates such opportunities: we learn about and search for information online, we read our daily newspaper online – in digital format and not in paper format – and we shop to a greater extent online, and not in physical stores. Read more

Reforming data access in a digital era – an opportunity to win!
With the introduction of new regulations concerning data access, particularly the Second Payment Service Directive (PSD2) and the General Data Protection Regulation (GDPR), digital businesses must gear up. It is important to prepare not only for the risks, but also for the opportunities that will arise from these new regulations. In fact, this could be a time for many businesses to transform their data management for the better. The key question is how companies should position themselves when adapting their business models in compliance with GDPR and PSD2. This is an important question, especially for those acting in a rapidly developing digital environment like the FinTech sector. Read more

Blockchain – How can the technology be harnessed to tackle money laundering and terrorism financing?
No doubt you’ve heard that virtual currencies such as bitcoin are vulnerable to the risk of money laundering and terrorism financing. Does this mean that financial companies should avoid the underlying technology – blockchain altogether? Read more

The story of the crowdfunding company FundedByMe
FundedByMe is the crowdfunding company that crowdfunded itself. We met the company’s CEO, Daniel Daboczy, to talk about their journey, the future development of the financial markets and how Fintech entrepreneurs should navigate through the regulatory thicket. Read more