Digital app One selects Finxact core banking system
New digital player to deploy Finxact on the cloud.
Banking
Plaid and Microsoft partner to turn Excel into a fintech app
“One of the earliest forms of ‘fintech’ is a budgeting spreadsheet,” says Plaid.
Siam Commercial Bank taps Ripple to provide cross-border payments
The Thai bank aims to cater to both individuals and businesses.
Colorado National Bank rebrands to Transact Bank and goes live with Fiserv
CNB was bought by the owners of Latvian fintech Transact Pro in 2018.
Banks waive overdraft interest on temporary basis
Banks & building societies have previously been shaking up their overdraft charging structures.
Keeping traders trading from home
Traders have found themselves operating in a new world.
Unicorn hopeful Lanistar lands $2.5m
Founder says it wants to become a £1 billion “banking alternative”.
ICICI Bank launches WhatsApp-based banking service
The Indian bank follows up on its API and digital development.
BNP Paribas snaps up Banco Sabadell depository unit in €115m deal
The unit holds assets worth €22 billion in custody.
Sony Bank launches online account for Japan’s foreign residents
Japanese bank pushes digital-only account for branch-shy immigrants.
South Korea’s KB Kookmin Bank to launch cryptocurrency custody service
The bank filed a trademark application at the end of January.
Tink completes €15.5m acquisition of Eurobits
The move is part of Tink’s growth strategy for 2020 and beyond.
HSBC delays ‘vast majority’ of redundancies amid COVID-19
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
ABN Amro withstands $200m loss from margin call failure of one client
The loss is equivalent to almost 10% of the bank’s annual profits.
How enterprise architecture can help the financial sector transform
The transformation of traditional banks is centred on customer experience, tech and data.
Video: Top fintech stories this week – 27 March 2020
FinTech Futures’ weekly news round-up.
Meri Williams steps down as CTO of Monzo
It is not clear who is taking up Williams CTO responsibilities.
SoftBank attacks Moody’s after debt downgrade
Moody’s cited SoftBank’s “aggressive financial policy” as it cut its rating from Ba1 to Ba3.
Coronavirus: FCA announcements round-up
We collated a round-up of these notices to assist our readers on COVID-19 updates.
Cash flow firm Plastiq raises $75m in Series D funding round
Plastiq has raised more than $140m in funding since its founding in 2012.
US Fed Reserve & ECB ramp up bond buying to steady markets
Fed pledged to buy unlimited amount whilst ECB eyes up €750bn additional bonds.
Coronavirus: UK cash usage halves during pandemic
Shop closures, contactless and hygiene concerns taking its toll on cash.
Refinitiv invests in Microsoft Teams partner ModuleQ
The two firms have held a partnership since 2018.
FCA requests listed companies delay publishing preliminary financials
It highlights that this statement does not apply to AIM-listed companies.
Canadian financial planner Finally to launch in May
“People don’t want to tell strangers how bad they’re doing with their finances,” says founder.
Barclays makes new executive hires in Asia Pacific
Carrie Chen and Sung-Min Chung join the bank to boost its client footprint.
N26 expects 70% of bank branches to disappear in 10 years
The coronavirus is accelerating a permanent change in consumer behaviour, says N26.
Moven shuts all consumer accounts, pivots to B2B-only service for banks
Founder says “major multi-year funding” was withdrawn due to coronavirus.
UK auto-saving app Chip lands authorisation from FCA
The app has seen an influx of savers using its platform as of late.
Love in the time of COVID-19
Amazing teams have teams that care. That’s how leadership works. It’s a team sport.
OpenPayd appoints Fidor founder as senior advisor
Matthias Kröner joins the firm to drive its international plans.
Australian telco ZipTel buys up challenger bank Douugh
Douugh uses AI to help customers get better insights on their money.
Brex acquires trio of San Francisco start-ups
Neji, Landria, and Compose Labs all brought under the Brex umbrella
Dublin start-up My Money Jar lands investment from Enterprise Ireland
The fintech has raised a total of $1.4 million.
Russia’s PM introduces new bill for fintech sandboxes
These new sandboxes will be subject to lighter regulations.
Coronavirus crisis forces the EU to redraw its digital strategy
Working remotely is also causing considerable strain on the EU’s IT system.
Survey: Corporate Banking & APIs – the state of play
Are there concrete API plans and strategies in place? We’d greatly appreciate your input in this survey.
Draft coronavirus stimulus bill considers ‘digital dollar’ to help unbanked
House Democrats have drafted a bill which, if enacted, would create a ‘digital dollar’.
A look under the hood of ABN Amro’s internal Covid-19 operations
The bank admits there were some VPN teething issues.
Erste Bank Hungary integrates OneSpan into mobile banking
The bank hopes to keep transactions secure and comply with PSD2.
