Fintech News: June 24th, 2016

E*Trade study reveals what investors want from mobile services (Finextra)

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Source: E*Trade Insights

Experienced investors have continuously evolving mobile preferences. Key findings from E*Trade’s study released this week:

  • Mobile trading is trending upwards. Total mobile trades mobile options trades increased 24% and 41%, respectively, since last year.
  • 2 out of 3 investors believe mobile is critical to monitor their investments.
  • 57% of millennials place orders on their smartphone or tablet, and 65% use their smartphone to research new investments.

See the full report at E*Trade Insights.

Britain Votes to Leave EU; Cameron Plans to Step Down (The New York Times)

It is too soon to say how the Brexit will affect London’s fintech hub. Some fintech CEOs have praised the Brexit as a way to escape bureaucracy and regulations that stifle innovation. Others have warned that these benefits will be outweighed by the difficulty of recruiting engineers, many of whom hail from Eastern Europe.

The Rise of FinTech in Supply Chains (Harvard Business Review)

FinTechs are climbing the supply chain and making it easier for buyers and suppliers to do business. By allowing the buyer to extend its payables, while also speeding up the payment to the supplier, these fintechs grant both parties more liquidity and stability in the timing of payments. These are likely companies you have never heard of, a group of many B2Bs in fintech who are truly disrupting the back offices.

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Fundings & Acquisitions:

Lots of money flowing this week, including huge funding rounds from European neo-bank Number26 and aggregation software Plaid. Two stock gift-card suppliers merged, and robo-advisor Personal Capital hired a former Yodlee exec.

stockpiletrioNumber26 raises another $40 million for its vision for the future of banking (TechCrunch)

Plaid Raises $44 Million to Allow Fintech Startups Access to Customer Data (Finance Magnates)

Stock Gifting Platform Stockpile Acquires SparkGift (Finovate)

Personal Capital Brings on Former Yodlee CFO (Finovate)

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