Private banking challenger Letter set to land in California
The start-up is spearheaded by GoDaddy engineer Drew Wilson.
Banking
Nymbus undergoes management shake-up with new CEO & CFO
Banking technology firm secures new faces at the top.
Bank of Ayudhya goes live on Murex MX.3 technology
Thai bank aims to revamp front, back, and risk technology.
Agricultural bank Oxbury picks Naqoda for core banking
Cloud-based vendor gains pioneer partner in the UK.
Bank of Baroda searches for new digital lending platform
Bank of Baroda searches for new digital lending platform.
Aussie neobank Douugh lists on ASX ahead of US launch
The plan is to launch in the US before Christmas.
Citigroup promises $1bn to close US racial wealth gap
Citi figures suggest $5trn could be added to US economy in doing so.
Why do some fintech start-ups experience high exec churn rates?
“Many founders enter the mindset that an hour lost is an hour gained by the competition”.
Trio of European start-ups raise fresh funding
Factris, KodyPay, and Swan all complete funding rounds this week.
Report: Intelligence, information & innovation – how UK financial services is shaping up for 2020
Comprehensive new research into the challenges, concerns and opportunities facing UK financial services providers.
US challenger One launches all-in-one card to serve middle class
One’s debit card offers a mixture of current, savings, and credit services.
Revolut’s four-year-long partnerships head Rishi Stocker departs
Stocker spearheaded Revolut’s Japan launch.
FinCEN Files: Legacy technology “not up to the challenge” to tackle AML
Changes could be needed on both sides to prevent another FinCEN Files.
Webinar: What does the future hold for “traditional” banking models?
How banks can thrive amid uncertainty and increased competition.
Westpac agrees to record AUD 1.3bn fine for AML failures
Australian bank on the receiving end of the country’s largest civil penalty.
White paper: Scalable, actionable anti-money laundering infrastructure
Open source AML solutions offer lower costs, rapid technology evolution, and broad community-based innovation.
Mode CCO: Alipay success can be replicated in the UK
With an IPO looming, Mode has got a busy year of business ahead of it.
Tech Nation’s third fintech cohort challenges London bubble
“What was striking is the increase of such businesses set up outside London and by women.”
OCC issues guidance on US banks’ stablecoin activities
The US regulator issues clarification for FIs dealing with crypto.
Yandex plans $5.5bn acquisition of Russian neobank Tinkoff
Russian tech giant plans to snap up the country’s largest online bank.
Goldman Sachs launches transaction banking service with Volante
The new cloud-based system is an “industry first” according to the pair.
Knowing how the story ends
“Where do I begin?” If you have ever asked me, you know my answer is always the same: in the middle.
Standard Chartered launches Mox Bank in Hong Kong
The virtual bank uses Thought Machine’s core banking system.
Live Oak Bank deploys Finxact core for deposits and loans
The US lender picked Finxact in 2018 to revamp its core systems.
UK challenger Kale99 launches to provide digital banking with a CX twist
New fintech aims to copy the rapid growth of its vegetational namesake.
Thought Machine lands ex-HSBC exec Andy Maguire as chairman
The appointment is yet to be announced officially.
Volt Bank partners with Microsoft to launch BaaS platform
Volt aims to provide retailers and incumbent banks with digital banking services.
Ireland’s An Post launches new app to take on Revolut
By 2025, An Post wants to hit one million customers.
Gaming friendly challenger Xace lands FCA licence
The start-up is active in both the UK and wider Europe.
Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
Revolut faces lawsuit in Romania over blocked account
Revolut faces 3,911 complaints so far this year, as compared to its 2,487 for the whole of 2019.
Sustainability fintech Helios aims to reduce users’ carbon footprints
French fintech wants to help users reduce the impact of their spending on the planet.
UK challenger Samie to launch in 2025
The start-up claims it hit the 500,000 future customer mark in mid-2019.
Black-led UK challenger Atmen is raising half a million
The fintech will launch within six to eight weeks of closing its crowdfund.
ClearBank offers multi-currency accounts through JP Morgan API
UK clearing bank claims to be the first of its kind to provide the service.
Five techniques for financial institutions to build and protect their digital reputation
How to protect the distinctive brand values that set you apart from the competition.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
CaixaBank and Bankia confirm merger creating Spain’s largest lender
For every Bankia share, CaixaBank will exchange 0.6845 newly issued shares.
Video: Top fintech stories this week – 18 September 2020
FinTech Futures’ weekly news round-up.
FinovateFall 2020: Banking-as-a-Service shows industry’s future value
A panel of bankers discuss the potential of opening up to customers.
