BlackRock banking malware capable of targeting 337 apps
New malware strain emerges from old source code.
Banking
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.
Monzo takes another shot at paid current accounts
The paid-for current account is priced at £5 a month.
HSBC signs multi-year cloud deal with AWS
Amazon Web Services is to become a “long-term strategic partner” for HSBC.
Monese and Paysafe sign digital banking partnership
Monese customers are able to use Paysafecash with their accounts.
Zambian mobile wallet Zazu launches virtual card
Zazu pivoted to digital banking in 2017.
White paper: Rearchitecting and simplifying post-trade operations
How cloud and innovative tech adoption can help overcome challenges in post-trade operations.
Privatbank’s CEO talks turmoils and turnarounds
In 2019, the bank’s net profits jumped by 2.5 times.
Barclays launches robo-advisor for £5k investments with Scalable
The service is called ‘Barclays Plan & Invest’.
Nymbus signs partnership with Payrailz
The two firms will work to enhance Nymbus’s product ecosystem.
US COVID-19 relief scheme deploys Wolters Kluwer tech
iLien for Main Street can aid banks offering support under the Main Street Lending Program.
