Report: Ten trends in reshaping banking in 2020
Business model, agile organisation, ubiquitous automation, technology modernisation, and culture and workforce transformation.
Banking
Italian neobank illimity launches its open banking platform
The bank launched just nine months ago.
RBC-backed start-up Mydoh launches banking offering for kids
The app and smart card launched more than two weeks ago.
IBM returns to M&A market with cloud acquisition
The acquisition is IBM’s first since its $34bn buyout of Red Hat in 2018.
Société Générale launches new Banxup account for teens
The bank has also overhauled its app for adults.
SAFE Federal Credit Union goes live on Symitar core
The $1.1bn credit union completed two-year migration.
Icelandic challenger bank indó selects Enfuce
The challenger is gearing up for a launch later this year.
Philippines challenger Tonik raises $21m ahead of 2020 launch
The bank has raised $27m since being founded in 2018.
Amaiz appoints Francesca Dowling as their new head of compliance
Dowling has more than 20 years’ experience working in the regulatory field.
Monzo co-founder joins new UK challenger bank GBB as non-exec chair
The soon-to-be bank will offer property development loans.
Chase Bank signs mobile banking deal with Sensibill
The fintech to provide receipts management in Chase’s banking app.
Is Monzo’s 40% drop in valuation a sign of things to come for tech start-ups?
Investors in the company believe the drop is nothing more than a minor blip.
CaixaBank starts rolling out 100 facial recognition ATMs
Branches in Barcelona and Valencia already have the machines.
Canadian and Taiwanese regulators sign fintech sandbox agreement
The regulators will build a “referral mechanism” between their fintech sandboxes.
Bank of America goes live on securities platform from Wematch and Pirum Systems
The combined system made its first transaction on 10 June.
Pakistan regulator accepts batch of start-ups for regulatory sandbox
The Securities and Exchange Commission of Pakistan received 32 applications.
Reaping the real benefits of data sharing
Data sharing enables banks to more effectively serve customers across the lifecycle.
Video: Top fintech stories this week – 12 June 2020
FinTech Futures’ weekly news round-up.
Deutsche Bank set to launch fourth e-FX hub in Singapore
The hub will be developed and staffed locally.
Chargeback raises $6.6m in Series A funding
The round was led by Fintop Capital and Next Frontier Capital.
Santander to hire 3,000 IT workers this year for digital transformation
“They will be at the heart of our transformation,” says bank.
Codat raises $10 million in Series A funding
Financial data fintech plans US expansion.
Klarna dips its toe in the savings market with Raisin
Offerings range to terms of up to 48 months.
Two credit unions go live on Corelation KeyStone
Corelation gains a pair of go-lives in Hawaii and Pennsylvania.
Federal Bank picks ACI Worldwide to boost fraud protection
More than $30m was stolen by fraudsters in India last year.
Banking Technology June 2020 issue out now
Real-time payments and fraud: balancing customer relationships and security.
Tinkoff launches automated micro-investing service
The bank is offering its 10 million customers an ‘Investment Box’.
ING’s multibanking start-up Cobase gets two new shareholders
The start-up will expand beyond Western Europe.
Diebold Nixdorf signs six-year contract with Austrian bank99
Diebold Nixdorf signs a contract worth $20m.
Indian digital wallet LovePay targets Gen Z market
The fintech already has more than 100,00 sign-ups.
Poland’s mBank picks Wolters Kluwer for risk management
OneSumX to be deployed across mBank’s Polish, Czech, and Slovakian ops.
Tell it cos it’s a good story
Why do all these dreamers and makers and poets work in banking transformation?
Video: Coforge – harnessing emerging tech and deep domain expertise in financial services
Digital services, intelligent automation, data & analytics, cloud & infrastructure – engage with the emerging!
Former Diamond Bank CEO launches Nigerian start-up Sparkle
Sparkle already has a banking license from Nigeria’s central bank.
Bank of America’s Merrill revamps client management workstation
The old system has been in place since the early 2000s.
Indian SME fintech Zaggle partners with Visa to launch ‘Founders Card’
Both firms want to speed up access to credit for SMEs.
Managing compliance in an age of innovation
Dell Technologies and World Wide Technology discuss the technology challenges facing FIs.
Documentation firm H4 snags $27m in funding from Goldman, JP Morgan, Barclays
H4 claims that documentation in capital markets is ripe for change.
Nymbus secures $12m in funding to expand digital banking systems
The vendor is aiming to push its SmartEcosystem platform.
Mobile banking platform Vivid Money launches in Germany
The challenger is working with solarisBank and Visa.
