US national banks granted authority to hold crypto for customers
US banks and federal savings associations can offer cryptocurrency custodial services.
Banking
Former Wirecard CEO Markus Braun arrested again
Jan Marsalek, the former COO, is wanted under an international arrest warrant.
Bueno bank aims to target Spanish holiday homeowners
Bueno promises a range of services to manage second homes.
Swift names Nick Kerigan as new head of innovation execution
Kerigan was previously the managing director for Future Payments at Barclaycard.
Wells Fargo hires Ather Williams III from Bank of America
Major US bank says its new head of strategy will drive innovation.
Morgan Stanley publishes greenhouse gas emissions on loans & investments
The bank is joining the Partnership for Carbon Accounting Financials.
Plum lands $10m for European expansion
To date, Plum has raised $19.3 million.
Almost soup
Optimism might get you out of your chair and striving for a better tomorrow, but it isn’t optimism that gets you there.
CCAF, World Bank and World Economic Forum call on industry to take part in COVID-19 fintech study
Working in fintech? Take part in the survey and share your views!
BlackRock banking malware capable of targeting 337 apps
New malware strain emerges from old source code.
Third wave of COVID-19 forces Hong Kong banks to close branches
11 lenders will partially or completely shut down operations at some 58 branches.
Accuity partners with Encompass to automate client KYC
Encompass technology implemented into Accuity’s Bankers Almanac solution.
Finastra and Microsoft extend cloud deal
The new deal is hailed as a “step change” in the pair’s relationship.
UK challenger The Reserve postpones launch due to COVID-19
The Reserve is built green “from inception”.
Virgin Money launches beta of new home buying app
The app is part of Virgin Money’s wider digital transformation strategy.
Kenyan lender I&M to become majority owner of Uganda’s Orient Bank
Last year, Orient Bank reported a net loss equivalent to $284,374.
Lloyds commits to increase Black staff in senior roles
It employs 40 Black members of staff across its more than 7,000 strong senior exec team.
Money manager for freelancers Flow lands Dutch PSD2 licence
The idea for Flow originated on an alpaca farm in Drenthe.
VTB Bank launches “robot factory”
It plans to introduce 60 digital employees by 2021 & 250 digital employees by the end of 2022.
Latvian regulator fines Signet Bank €906k for AML issues
FCMC fines Latvian private bank after on-site inspections.
Aussie fintech Wildcard shuts down due to COVID-19
The savings firm couldn’t keep up with the economic impact of coronavirus.
National Bank of Bahrain picks Bloomberg risk management tech
TOMS and MARS to be deployed at the GCC bank.
From open banking to open finance
It’s only in 2020 that we see the quality, reliability, and range of APIs connecting to accounts that realise the regulators’ vision.
MoneyLion launches RoarMoney with MetaBank & Mastercard
RoarMoney is priced at $1.00 a month.
Study finds discrimination against Black small business loan applicants
Of the groups studied, Black women received worse treatment in 59% of cases.
UK savings app Moneybox lands £30m, plans crowdfund
Moneybox has raised £50 million since 2016.
FCA and City of London to create COVID-19 inspired digital sandbox
The sandbox will be for both start-ups and “large financial institutions”.
Italy’s Banca Mediolanum launches sustainable challenger Flowe
The bank currently employees a team of 56.
Swiss digital asset tech partner Metaco lands $17m Series A
Investor Standard Chartered says “digital assets are here to stay”.
Video: Top fintech stories this week – 17 July 2020
FinTech Futures’ weekly news round-up.
Webinar: The bottom line – simplifying digital evolution in financial services
Learn how to be be competitive, fast and secure – and the technologies to underpin the digital journey.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
Bond bags $32m from Coatue, Goldman Sachs and Mastercard
Bond’s offering is based on “developer-focused” applications.
Tink continues acquisition play with credit decisioning platform Instantor
Instantor employees a team of 26.
Banca Ifis breaks into Germany with Raisin partnership
Raisin to power cross-border finance for Italian firm.
Educational Systems FCU goes live with Finastra digital banking
Maryland-based credit union wants an in-branch experience online.
The LIBOR transition: why financial organisations need to work smarter and not harder
This LIBOR solution replaces an army of paralegals with technology able to extract information from a 200-page document and over 140 various data points.
Meet OneBanks: the fintech picking up after banks’ branch closures
The start-up wants to create a bank-agnostic branch network.
Webinar: Streamlining manual processes amid COVID-19
Experts from Banco Santander, Foxit Software and Xendoo discuss digitising paperwork during the coronavirus crisis.
Standard Chartered signs quantum computing research deal with USRA
Standard Chartered to investigate the uses of new technology.
