TSB’s online and mobile banking goes down on April Fools
Phone lines were busy and branches weren’t reachable amid lockdown.
Banking
UK fintech Tully helps distribute COVID-19 payment relief
The fintech wants to reach two million people in its first eight weeks of launch.
Manchester’s fintech scene needs a homegrown unicorn, says report
Manchester is already home to five homegrown ecommerce unicorns.
France’s central bank opens applications for digital currency experiment
Applications are due by 15 May 2020.
How banks’ platform strategies are shaking up the fintech industry
A shift to the digital landscape has not been plain sailing for financial institutions
Flux and Pleo partner to deliver “invisible” expensing tool to UK SMEs
The new co-created tool is set to launch later this year.
bunq promises its users “CO2 free” status in less than two years
The fintech is introducing a new upgrade called ‘SuperGreen’.
COVID-19: a call for digital transformation
This will not be a short-term event so businesses must prepare for the long haul.
Banking industry publishes EU payments plan post-coronavirus
The paper puts a heavy emphasis on instant payments.
Trustonic lands security deal with South Korea’s biggest bank
“KB Bank are taking a more open market approach,” says Trustonic.
PayTech Awards deadline extended! Submit your entry by 10 April
Premier awards for banks, financial, payment & e-commerce institutions, paytech vendors, individuals & teams!
Japanese challenger Kyash lands $45m Series C
To date, the fintech has raised $73 million since its creation in 2015.
LA challenger bank HMBradley launches to tap savers
The bank says it will offer up to a 3% return rate on deposits.
A banker goes a-banking, volume 6: the patience of the lambs
Better is possible. Better is needed. Better is now both a business decision and a moral imperative.
Icelandic challenger bank Indó prepares for launch
The prospective first digital bank in the country is seeking a licence.
MatchMove buys strategic stake in Shopmatic to build SME offering
MatchMove is slowly building up its armoury to morph into a full digital bank.
ECB calls for bank bonus moderation
The ECB will act against banks which don’t comply.
Singapore’s robo-advisor Smartly shuts, cites “intense” competition
Vietnamese owner VinaCapital Group made the decision to wind business down.
Monzo’s CEO takes 100% pay cut for 12 months
Senior management and the board will also take a 25% pay cut.
Virtual bank Airstar launches pilot in Hong Kong
The digital bank will onboard roughly 2,000 customers.
VTB Bank registers new big data company with Rostelecom
The joint venture will be accessible via an API to “all interested market players”.
JP Morgan vs fintechs: Who really owns your data?
The bank gave fintech firms a choice: abide by data access rules or get out.
Digital app One selects Finxact core banking system
New digital player to deploy Finxact on the cloud.
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.
