Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
Banking
German business banking start-up Penta tops up Series B by €4m
The financing round adds to the fintech’s Series B in March.
Mastercard invests in long-term fintech partner Verestro
The fintech has worked with Mastercard since 2011.
LIBOR transition: everything you need to know
How NIIT Technologies is supporting businesses grappling with LIBOR transition.
Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech Deposit Solutions.
Virgin Money restarts planned job cuts and branch closures
The UK bank’s plans had been put on hold by COVID-19.
Deutsche Bank signs Google Cloud strategic partnership
Deutsche picks Google after five-month negotiation period.
UK challenger Monument to tap Britain’s mass affluent
The fintech has raised £10 million to date.
The Peoples Community Bank picks Finastra for new core system
Fusion Phoenix deployed at Wisconsin-based bank.
Starling Bank launches two new paid business accounts
The roll-out includes its second multi-currency account.
White paper: Three key trends driving financial services IT transformation
How financial institutions can become more customer-centric, leverage hybrid IT infrastructure, and avoid vendor lock-in.
National Bank of Pakistan modernises pool management
The upgrade “promises to set an industry standard for Islamic banking in the country”.
South Korea reports 20m subscriptions to open banking service
Figure represents a quadrupling of registrations since an October 2019 pilot.
Lloyds CEO António Horta-Osório to step down in 2021
“Mixed emotions” for Horta-Osório as Lloyds announces new chairman.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
Overcoming challenges on the road to open banking success
FinTech Futures speaks to Rajashekara V. Maiya at Infosys Finacle about open banking.
How open is open banking?
If open banking was to deliver on its promise, the opportunity for growth would be enormous.
Introducing CRUX Digital Days – getting the crux of the tech matter
What’s shaping the financial services technology industry of today and what awaits it tomorrow?
Monzo’s co-founder Tom Blomfield leaves its board
According to a Companies House filing, his termination occurred on 17 June 2020.
Starling Bank applies for £35m grant from BCR
The UK challenger bank was awarded £100m last year.
ChannelMeter raises $4m for content creator banking service
The start-up is launching its new service ‘Creator Cash’ this month.
PBI lands €45m & acquires salary-backed loans business
The fintech was founded by ex-UniCredit execs.
Regional Australia Bank approves first Aussie open banking loan
The process took six minutes end-to-end, claims bank.
Pakistani fintech SadaPay lands CTO from Indonesian unicorn Gojek
Gojek is Indonesia’s most valuable start-up.
Monte dei Paschi explores merger plan with Banco BPM
World’s oldest bank looking to bulk up its resources.
Major banks take another step towards ‘truly European’ payment system
Some 16 of Europe’s major banks are set to initiate the implementation.
Infrastructure that gives you an edge: payments-as-a-service
The only technology model for future payments ecosystems.
Video: Top fintech stories this week – 03 July 2020
FinTech Futures’ weekly news round-up.
How 5G will revolutionise consumer banking
When 5G is part of our nationwide infrastructure, it will transform products and services.
Vietnamese digital bank TNEX to create consumer-merchant ecosystem
“We’ve started a bit of a fintech revolution here,” says MSB’s CDO.
Santander launches Mi Vuelta COVID-19 track and trace app
The Mi Vuelta COVID-19 track and trace app allows employees to report any symptoms.
Trio of fintechs sign up to Mastercard’s Open Banking Protect
Aion, DiPocket, and Modulr have signed up to Mastercard’s Open Banking Protect solution.
US challenger Point lands $10.5m for debit-credit hybrid
Rewards rest on a point-based system.
UK opens virtual fintech trade mission to APAC
The fintech deal follows FTA talks between the UK, Australia and New Zealand.
Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Is your bank rotten to the core?
In banking, a legacy product core based on old technology can’t simply be modified.
APRA hits CBA and Suncorp with pensions conditions
Aussie regulator is unhappy with the pair’s treatment of customers.
Fintech start-up Simpl targets India’s low credit card adoption
Just 3.85% of Indian consumers have credit cards.
The Philippines launches government-owned OFBank for overseas citizens
Filipinos will be able to sign up to the new service with a selfie.
Millennium Banque Privée outsources Olympic system with Swisscom
Switzerland-based firm moves core banking to the cloud.
