HSBC launches e-wallet PayMe for teens in Hong Kong
The adult version already has 1.9 million customers across Hong Kong.
Banking
Chinese regulator preps for market clampdown
CSRC has promised a greater crackdown on fraud, insider trading and market manipulation.
SME fintech ANNA bags £17.5m from ABHH Group
The investment values it at $110m, with the founders keeping a 40% stake in the start-up as part of the deal.
Digitalisation a must-have for lending in a post-COVID world
The coronavirus pandemic has affected and disrupted every aspect of financial services.
Open banking wave is coming, but are banking APIs ready for fintech?
Why is it hard to get into open banking as a new player?
Video: Top fintech stories this week – 15 May 2020
FinTech Futures’ weekly news round-up.
Westpac discloses AML breaches and due diligence failures
Australian bank has set aside AUD 900 million for an expected fine.
Aegean Baltic Bank of Greece selects Wolters Kluwer’s OneSumX
The bank picks Wolters Kluwer to meet Basel IV and CRD V requirements.
Commonwealth Credit Union picks Jack Henry to automate lending
The Kentucky-based CU wants to boost its lending capabilities.
Green Dot bags Walmart exec as part of bigger strategic overhaul
The firm also appointed a new CEO in March.
Breaking down tech overhauls with CKV’s chief digital officer
Implementation of nCino’s cloud banking software took a year for the bank.
Ecosystems evolution
Five focus points on how organisations can coexist and grow in the ecosystem.
NICE Actimize and Infosys extend cybersecurity partnership
Technology firms tie up new collaboration.
Agora Services launches white label teen account for Finastra
Agora’s CEO says the app launch is “related to” the Revolut Junior launch in the UK.
Deutsche Bank resumes job cuts during coronavirus
“We decided to further accelerate our cost reduction program,” says CEO.
Diebold Nixdorf’s corporate network hit by ransomware attack
ATM provider detected the attack in April, which is says has been dealt with.
Marcus cuts easy-access saver rate again to 1.05%
On 19 March, the Bank of England cut its base rate to 0.1%.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Six fintech innovations that bank lenders must embrace – and fast
Here’s a review of cutting edge tech.
High school jocks living their best lives
Those who feel the place you are offering them into the future is not shiny enough, can and will be left behind.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
Fidor Bank loses O2 mobile banking contract
The contract began back in 2016.
JP Morgan first major US bank to serve crypto exchanges as banking clients
Coinbase lost its previous banking support from Barclays in August 2019.
Morgan Stanley pays $5m fine for misleading investing clients
The bank’s retail “wrap fee” programmes incurred non-transparent charges.
Partnerships to drive industry forward in post-COVID world
The coronavirus pandemic has caused immediate changes to the financial services industry.
Revolut announces redundancy of 60 employees due to coronavirus
“We have made every effort to protect every job,” says fintech.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
Addition Financial picks Backbase to provide customer personalisation
The Florida credit union shuns a “one-size-fits-all” approach.
IBM signs payments modernisation deal with 75 Canadian credit unions
Big Blue to outfit Canadian CUs across three provinces.
Thai payments start-up Digio raises $4 million in Series B funding
The round featured Thailand’s interbank payments provider.
Temenos helps UK banks speed up BBLS distribution “in days”
UK banks have seen a surge in demand for BBLS loans.
Merchant payments fintech Primer raises £3.8m
The newly-launched fintech has secured investment from Balderton Capital.
Path Solutions deploys business intelligence solution at Al Baraka Bank Sudan
Sudanese bank implements iMAL*BI solution.
Pandemic forces corporations to balance technology investments on risk and agility
125,000+ staff working remotely, 3m chat messages, 780,000 video & internet calls a day – how did Santander do it?
Citizens Bank taps Teslar Software to improve portfolio management
The Arkansas-based bank turned to Teslar following a recommendation from a compatriot lender.
Truist Financial selects TSYS for payments processing
Newly merged commercial bank kicks on with its tech deployment.
Avaloq extends contract with First Abu Dhabi Bank in Switzerland
The deal entails using Avaloq’s business process-as-a-service (BPaaS) systems.
Business banking app Countingup lands £4m led by ING
ING says Countingup is a “digitally disruptive solution”.
Paysafe snaps up Standard Chartered director for chief banking role
Sharp will be in charge of the firm’s payment partner networks.
White paper: The digitalisation of sell-side risk management
What are the latest trends in risk management for sell-side institutions and what shapes them?
