NAB signs SME payments deal with Eedenbull
Eedenbull is providing a handful of systems to the major Aussie bank.
Banking
Biden reshuffles US financial regulators to reign in corporates
Consumer protection fines against financial corporates have declined under Trump.
Technology lies at the heart of the ethical banking revolution
We have a collective opportunity to lift our communities out of this dire situation.
Goldman picks Marqeta to power Marcus current account rollout
Marcus plans to launch its new accounts later this year.
Ant sets up working group to overcome Chinese regulatory requirements
Companies like Ant have until November 2021 to register a new financial holding.
Tide gears up for international expansion to India
The fintech says it will bring the exact same offering it has in the UK, to India.
ADQ’s unnamed neobank nabs new CEO from Emirates NBD
Patel joins the upcoming challenger after leading Emirates NBD’s challenger Liv.
Konsentus acquires Open Banking Europe initiative from EBA Clearing subsidiary
Open Banking Europe (OBE) will remain a separate operating entity.
Capital One’s “wilful” AML failures land the bank a $290m penalty
Some $16 billion in reportable transactions passed through the bank’s platform.
Lessons from The Boring Company
Perfecting the art of boring requires some rare skills.
US banks must lose “legacy anchor” to meet customer needs in 2021
The banking landscape in North America is undergoing a fundamental shift.
Goldman Sachs mulls acquisitions to bulk up Marcus
Goldman’s CEO intends to make Marcus a pillar of the US bank’s growth.
Temenos shakes up executive team with changes at the top
Promotions and hires for the Swiss banking vendor.
Tandem quotes same “material uncertainty” as Monzo in 2019 financials
Tandem’s plan is to be profitable by July or September 2021.
Understanding the three key trends in SME banking for 2021
The pandemic has accelerated digital transformation in banks’ lending platforms.
Video: Top fintech stories this week – 15 January 2021
FinTech Futures’ weekly news round-up.
Grab’s fintech arm lands $300m Series A
Grab Financial Group saw its total revenues jump up by more than 40% in 2020.
Italy’s BNL goes live on Tink open banking service
The implementation is part of an extended deal with BNP Paribas.
Digital lender Blend raises $300m in Series G funding round
Lending firm plans to expand team and grow its products with the substantial raise.
Dubai-based Bankiom promises “new way” to manage money
Banking app promises fast account setup and loan processing.
Irish banks plan payments rival to take on fintech entrants
AIB, Bank of Ireland, TSB, and KBC pull together to battle fintechs like Revolut.
Walmart prepares launch of its own fintech start-up
Retailer says customers want more of its financial products.
Saudi Arabia’s central bank plans open banking go-live for 2022
SAMA has already “collected the local financial market participants’ feedback”.
Temenos wins Transact deal with Czechzia’s Komerční banka
The bank is aiming to launch products to the market faster.
New Zealand’s central bank victim of Accellion’s cyberattack
New Zealand Stock Exchange was also the victim of a cyberattack in August.
FLEX moves 13 US credit unions to its core tech in 2020
Another 12 credit unions are scheduled to go live with FLEX’s core processing tech in 2021.
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
Curve lands $95m as it reveals losses have quadrupled
The fintech claims to have two million customers.
ECB hires Claudia Plattner as new IT director
Plattner is CIO for Deutsche Bahn’s IT provider.
Revolut applies for UK banking licence to boost primary account numbers
Fintech unicorn seeks to transition to full bank in the UK.
HSBC’s Hang Seng Bank to appoint first female chairman Irene Lee
In the short-term, Lee’s focus is on putting Hong Kong’s economy “back on the road to recovery”.
EXCLUSIVE: Oracle wins Flexcube deal with Somalia entrant BB Bank
Upcoming Islamic bank picks Oracle FS to furnish its core operations.
PAYMYNT Financial buys crypto e-wallet LettucePay
LettucePay operates on top of Stellar Network, an open source blockchain platform.
BBVA shutters Simple after paying $117m for it in 2014
The bank is cutting out standalone entities which no longer make sense to operate solo.
UK Treasury calls for input on planned regulation of cryptoassets and stablecoins
UK’s finance ministry says “the landscape has changed” in a short time.
India’s Udaan lands $280m in Series D funding
B2B payments firm reaches total funding of $1.2 billion.
India plans new bank to support $1.5trn infrastructure revamp
Prime minister Modi is expected to announce the news next month.
How FIs can reduce friction and drive value in the payments system
FIs can help clients proactively identify and respond to potential problems.
Video: Top fintech stories this week – 08 January 2021
FinTech Futures’ weekly news round-up.
Central Bank of Ireland urges firms to contact UK banks over Brexit
Creditors with direct debits in place for UK customers may need to provide their bank with additional info.
