Tech & Tonic: Eyeing up the IPOs, Facebook crackdown

 

What's been happening in the world of fintech this week? Sit yourself down, ask someone you love to pour you a glass of gin laced with tonic and read on.

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New kid on the block
New kid on the financial block META Finance will help banks cultivate relationships with start ups and get to grips with the tidal wave of tech disruption heading their way. META, a consultant to financial institutions and software providers, launched this week and has already piloted its coaching services with Aegon UK, Arachnys, Brooks Macdonald and Redington.

Eyeing up the IPOs
Fintech will be the first sector this year to float an IPO. Integrafin, a service for financial advisers, will use the money raised to allow some of its shareholders to cash in on their investments.

Crowd-pleaser Oval Money exceeds fundraising target
Oval Money, the European automated saving and crowd investing marketplace app, exceeded its crowdfunding target of £500,000 last week, just 72 hours after a public launch.

The round remains open to the public until Monday, 29 January.

Previously, Oval has been backed by b-ventures - an incubator from Japan’s DOCOMO Digital (disclaimer, DOCOMO Digital is a client), and Bertoldi Group Family Office, also with the support of Intesa Sanpaolo Group.

Facebook under (more) pressure
Pressure on Facebook continued this week, when a group of the UK’s biggest advertisers called on the social media platform and Google to establish an independent body to crack down on fake news and inappropriate content on their platforms. The group’s members include Lloyds Banking Group, Unilever and Procter & Gamble. Facebook's own plans to moderate the content shared on its platform, as shared on their blog this week, included proposals to ask users to fill out a two-question survey on whether they found a story trustworthy. This idea was roundly criticised by press freedom campaign group Reporters without Borders. Tech & Tonic tends to agree and is not convinced the truth can be outsourced in this manner. Brands will of course watching any move Facebook makes very carefully indeed, given it (probably) makes up a sizeable portion of their marketing spend.

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