Report: Digital KYB – a springboard to customer onboarding success
FinTech Futures’ latest in depth industry report on KYB, in partnership with DueDil.
Banking
G2A co-founder launches banking challenger Zen in 32 countries
Zen’s offering is split into consumer-facing and business-facing.
Indian challenger Finwego looks to lend to private schools
The neobank claims to work with 700 partners already.
Spanish mega-merger off the cards as BBVA and Sabadell call it quits
The two banks couldn’t agree price over a major combination.
Video: Top fintech stories this week – 27 November 2020
FinTech Futures’ weekly news round-up.
Danske Bank reveals 500 job cuts and redundancies
Danish bank says the roles are reduced as part of an ongoing cost reduction plan.
Sopra Steria ransomware attack costs group €50m
Sopra reveals details of Ryuk attack from October.
Embedded banking fintech Weavr lands $4m seed round
Weavr, once known as Open Payments Cloud, spun out of Ixaris in 2019.
Cynergy Bank taps Google and Wipro to launch new digital banking project
Cynergy says customer want a hybrid of digital and face-to-face.
Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
Danske Bank deploys Windward AI to track risk at sea
Windward claims its AI uses 10 billion data points.
Danish digital bank Lunar picks FIS for treasury and risk
Lunar to deploy a cloud-based version of Ambut Quantum.
Founder and CTO of Malauzai leaves Finastra
Daniel Piangerelli departs two years after Finastra acquisition.
New York challenger Current lands $131m in Series C funding round
The capital will go towards Current’s product offerings.
Navigating the new normal – how to redefine KYB and enhance the SME experience
The “one size fits all” approach to compliant onboarding is simply no longer relevant.
Goldman’s former CIO becomes chairman of Israeli fintech The Floor
“I believe The Floor has transformative potential to impact the financial services industry.”
Prospective Philippines digital bank Uno picks Mambu
Uno’s parent DigiBankAsia is working with Philippine regulators to obtain a licence.
Advanzia Bank signs Backbase to power three new mobile apps
The new applications have gone live across France, Austria, and Spain.
HMBradley lands $18.25m Series A led by Chime investor Acrew Capital
To date, the fintech claims it has surpassed $90 million in customer deposits.
AI rewrites 21st century debt collection practices
It’s likely that AI will find a range of uses in the debt collection sector.
Suncorp exec-founded neobank Alex raises AUD 10m
The funding is headed towards marketing and product development.
Blockchain-based lender Figure seeks US bank charter
Figure wants to simplify its regulatory and compliance procedures.
New challenger Klear emerges in India
Klear promises an “approachable and easy” way to understand financial health.
Be Money rebrands as Daylight in preparation for US launch
Daylight promises a range of LGBTQ+ services to support its customers.
Starling Bank claims to be UK’s first profitable challenger bank
CEO Anne Boden announced £800,000 profit in a company update.
Christian Investors Financial picks Finastra core system
Finastra to deploy Phoenix on the Microsoft cloud.
Ogaki-Kyoritsu Bank selects Moneythor to revamp digital banking
The regional Japanese bank wants a hybrid approach for customers.
Fidelity Bank & Trust goes live on Jack Henry’s SilverLake system
The Iowa-based bank replaces several legacy systems
New senior hires at core banking tech vendor 10x Future Technologies
Dr Leda Glyptis is new chief client officer and Mark Holt is chief product & engineering officer.
Google Pay unveils integrated banking challenger Plex
Plex will sit in the wider, revamped Google Pay app.
European Central Bank taps SIA and Colt to connect market infrastructure
SIA and Colt will help the ECB connect through the ESMIG single access interface.
The growth springboard for your bank
Coforge and Profinch execs share their thoughts on Oracle Flexcube.
Chipper Cash raises $30m in Series B featuring Jeff Bezos VC
The Amazon founder’s personal VC participated in Chipper’s latest funding
US crypto exchange Gemini banks on ClearBank for UK operations
Gemini launched in the UK two months ago.
UK challenger Monument partners with Mambu, AWS & Accenture
“Monument concluded that no appropriate single solution existed”.
Digital banking platforms – the new core
Banks that want to own their distribution should also have a strategy for DBP in place.
UK challenger Finndon lands e-money licence
The start-up plans to launch in 2021.
Monzo replaces chief risk officer Lisa Nowell
Nowell leaves after just over a year in her position.
One of Turkey’s largest fintechs Papara gears up for expansion
It launched in 2016 and became cash flow positive in 2017.
