Jack Ma plans to cede control of Ant Group; & more!

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: Welcome to your daily FinTech news! NEWS HIGHLIGHT Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded. If realized, the move will mark another important turn in Ant's restructuring and power shuffling since China called off its $35 billion initial public offering nearly two years ago. Link here. FINTECH NEWS #mergersandaquisitions Lemonade buys Metromile at 70% below original valuation. Nine months after it was announced, the share-based merger between Israeli insurtech company Lemonade and US insurance company Metromile has closed at 70% below its original value, after a slide in the share prices of both companies. Link here. Equifax is set to acquire Midigator. The terms of the deal, which are undisclosed, will expand Equifax’s global footprint in digital identity and fraud prevention. Link here. #payments Viber launches Payments, a new digital wallet for paying bills, money transfers, and buying goods. Payments wallets can be used to make bill payments, buy goods, and transfer money to other individuals. Link here. Kushki received approval from national authorities to become Ecuador’s first payment aggregator. This means that Kushki has achieved a new status in facilitating electronic payments. Link here.