Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Banking
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
JP Morgan Chase partners with Greenlight for kids account
The JPMorgan Chase app has around 39 million ‘active’ customers.
Why the focus on risk weighted asset optimisation is increasing
Many banks have started formulating an action plan and framework to drive this initiative within their organisation.
FinTech Futures Jobs: five exciting fintechs that are hiring now
Top fintechs looking for talent, including Monzo, OakNorth, Cleo AI and Chip.
GPS fills out executive team with handful of new C-level hires
Richard Hodgson, Shaun Puckrin, and Jerome Gudgeon join the payments firm.
Tandem Bank appoints former Allium CEO as new chief commercial officer
Paul Noble joins Tandem to help it create green digital banking services.
Central bank digital currencies – don’t get the popcorn
If the art of the possible is being explored, the art of the valuable remains elusive.
US rapper Killer Mike unveils Black and Latino-focused challenger bank Greenwood
Each month, the digital challenger promises to gift $10,000 to Black or Latinx businesses.
Ternio becomes Visa’s first crypto enablement partner for debit cards
“This shows Visa’s commitment to onboard other companies which develop crypto.”
Temenos appoints former SAS EVP as new European president
David Macdonald joins Temenos after 19 years at SAS.
Rabobank outsources regulatory reporting with BearingPoint
BearingPoint to take on a slice of Rabobank’s European reporting needs.
Modul8 and Nium partner to provide card-issuing for APAC region
The two claim they can deliver the service for companies in as little as three months.
The intersection of digital identity verification and customer empowerment
Mobile onboarding must deliver an experience that is secure and friction-free.
Swiss investment challenger FlowBank picks Temenos Transact
Temenos is set to deliver its system on a SaaS basis.
Fintech Razorpay becomes India’s fifth unicorn during COVID-19
By 2025, Razorpay wants to have 50 million business customers.
Former Barclays execs to launch challenger bank Pennyworth for UK’s “aspiring affluent”
The start-up promises impressive rates considering the current 0% interest climate.
The imperatives behind BFS
The current crisis highlights the urgent action required for businesses to upgrade to digital platforms.
Russia’s Tinkoff launches messenger service in its app
Tinkoff claims to have acquired 1.7 million new credit accounts since the beginning of this year.
Texan challenger Viva First to launch for Latinos before year end
The fintech is piggybacking off Texas-based Spur Security Bank.
Citi to pay $400m OCC fine for risk management failures
“The heavy lift will be the technology upgrade, which [the regulators] will micromanage.”
Sibos 2020: Citi’s CEO calls on banks to deliver social justice
“We have a larger obligation to deliver fairness.”
Bank of America teams up with Black-owned Unity bank
BoA has acquired approximately 5% of the bank’s common equity.
Capitec Bank selects HPS PowerCard to power new product launches
The South African Bank aims to “simplify” banking for its customers.
Jordan Ahli Bank goes live on Temenos Infinity
The Jordanian bank is an existing user of Temenos’ core banking system.
Ranqx signs digital lending deal with Mambu
The New Zealand firm will deploy Mambu tech alongside its own systems.
Grasping the opportunities of new digital customers
A flexible approach is needed to ensure newly digital customers aren’t frustrated.
Sibos 2020: BNP Paribas chairman says COVID-19 “not a banking crisis”
The work of banks, regulators and governments has kept things calm, says Jean Lemierre.
Mastercard and Ethoca deliver greater transparency in digital banking applications
All merchants can upload their logos at logo.ethoca.com for inclusion in online banking and payment apps.
Virgin Money slashes 400 jobs as it lands £35m government grant
The 400 job cuts are part of a forecast 16% reduction in Virgin Money’s headcount.
Banks must empower SME clients with more than a repackaged retail account
“Once you strip back a lot of the functionality in retail banking it’s more about experience than solving issues.”
Citi invests in markets software firm Genesis Global Technology
The undisclosed strategic injection sees Citi deploy some Genesis tech.
UK Finance appoints David Postings as new CEO
Postings is an industry veteran, spending 25 years at Barclays and three at Lloyds.
Young Black lives in banking
The number of senior Black execs on Wall Street has remained under 3% for the past decade.
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
