Coronavirus: FCA announcements round-up
We collated a round-up of these notices to assist our readers on COVID-19 updates.
Banking
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Founder says “major multi-year funding” was withdrawn due to coronavirus.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.
Aussie challenger Xinja lands $255m from Emirates’ World Investments
Xinja will receive the bulk of the investment over 24 months.
big xyt hires SocGen’s Richard Hills
Data analytics firm snaps up electronic equities trading man.
US non-bank financial firms push Congress for SME lending relief
Legislators are currently working on a bill which addresses small business loans.
Hong Kong’s first virtual bank opens its digital doors
Za Bank launches with incumbent-challenging interest rate.
Revolut heads stateside with US launch
The London-based unicorn expands to North America.
HSBC joins Alibaba to offer Hong Kong’s online merchants quick loans
This is the first time HSBC will use third-party data to approve trade finance loans.
UK challengers Revolut and Monzo combat claims they are going bust
Revolut dubs the claims “fake news”, and Monzo says it is “here to stay”.
Fronted, 11:FS and Credit Kudos create ‘Covid Credit’ for self-employed
Covid Credit uses open banking data to help the self-employed get income relief.
Finastra brings servers back online after ransomware attack
“A bad-actor was attempting to introduce malware into our network,” says firm.
World Bank issues $300m loan to boost Indonesian financial sector
International bank seeks to support Indonesian fintech and banks.
Goldman Sachs becomes part of SAP’s Ariba Network
More than 4.6 million companies make up the Ariba Network.
Path Solutions signs Somalian challenger MyBank for iMAL core
Path Solutions says it now has a “stronger focus” on the Somali market.
Cloud security in a post-GDPR world
An increase in cloud adoption leaves some interesting questions when it comes to data regulation.
HSBC’s $6bn structural overhaul under threat from COVID-19
The global bank may have to delay its plans if the contagion becomes a long-term issue.
ESMA relaxes MiFID II call recording rules in wake of COVID-19
The EU regulatory body recognises limitations created by the virus.
How smaller banks can take control of their role in the US open banking movement
Embracing open APIs offers plenty of benefits for financial institutions of all sizes.
How machine learning can power your business
It demands careful planning and a high-level understanding by all stakeholders.
Video: Top fintech stories this week – 20 March 2020
FinTech Futures’ weekly news round-up.
