Monzo launches first business banking accounts
UK challenger bank steps into the business space with new accounts.
Banking
Revolut loses CFO after just six months, brings in interim CFO from SLA
David MacLean joined Revolut from Metro Bank last July.
Challenger bank Arro Money to shut down in April
The challenger bank’s operator wants to go in a “new direction”.
Santander snaps up Nationwide’s deputy CEO to support UK transformation
The Spanish multinational bank has committed €20bn to its digital transformation.
Scotiabank commits to helping Canada’s emerging AI start-ups
The bank will give start-ups and tech entrepreneurs access to funding and expansion opportunities.
Crypto start-up Bakkt lands $300m Series B from Microsoft and PayU
The fundraising was closed last Friday, the same day Bitcoin experienced a multi-month low.
Central banks free up US dollar liquidity amid coronavirus pandemic
The price on the US dollar liquidity swap arrangements will go down by 25 basis points.
Open banking: A move towards greater or lesser transparency in banking?
Will it reduce or increase information asymmetry between consumers and finserv companies?
Finovate Podcast: Episodes 21-30
The Finovate Podcast is a short, interview-based podcast featuring conversations from fintech’s elite innovators and influencers. For more than a decade, the global event series has brought together tens of thousands of people from across the fintech spectrum to see cutting-edge technologies. Now you can find out what goes on behind the scenes, as key influencers and […]
Yapeal awarded Switzerland’s first fintech licence
Challenger plans to reinvent retail banking in the country.
ING invests $5m in natural language processing start-up Eigen
The capital from ING brings Eigen’s total Series B to $42 million.
Al Wifaq International Islamic Bank selects ICSFS Islamic system
Newly established Iraqi bank picks ICSFS over five other providers.
Over one million users migrate from Yes Bank’s to ICICI Bank’s UPIs
The collapse of Yes Bank is causing ripple effects for UPI partners.
Agora Services lands $2m in seed funding
The founder previously built French digital bank Fortuneo.
UK challenger ikigai to launch flat-fee investment account
“I think the pain points are quite similar across different income levels,” says co-founder.
Interior Savings Credit Union picks Fiserv DNA
Canadian credit union shifts to new system to drive “flexibility”.
Who owns your data?
The answer to competition is not to block access to customer data.
What can we expect in the next decade?
From big data and cloud to developments in distributed ledger technology and more.
Video: Top fintech stories this week – 13 March 2020
FinTech Futures’ weekly news round-up.
EBA suspends EU banks’ stress tests over coronavirus impact
European regulator encourages flexibility in reaction to the virus.
Revolut launches gold trading for Premium and Metal users
The neobank will apply a 0.25% markup, with no other fees.
FCA issues coronavirus cryptocurrency scam warning
UK watchdog tells investors to be wary of deals too good to be true.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
Kyriba Live 2020: Is it time to partner up with fintech firms?
The question is whether fintech firms will want to join Kyriba’s platform.
SME challenger bank NorthOne raises $21m Series A
New York-based challenger plans to splash the cash on customer acquisition.
Standard Chartered launches Banking as a Service solution in Indonesia
The white-label service was incubated at SC Ventures.
Inclusion, innovation, and mobile money in Sub-Saharan Africa
“If our systems fail, a big part of the economy would fail,” says exec.
Western Union refunds $153m for scam victims
Western Union agreed to pay $586 million in monetary relief following a 2017 scandal.
CFPB files account fraud lawsuit against Fifth Third Bank
US regulator claims bank opened credit accounts without customers’ permission.
Credit Sesame launches new digital bank account Sesame Cash
A banking offering will engage customers beyond just improving credit.
UK treasury expected to push back sale of its RBS stake to 2025
A further five-year delay is put down to “turbulent stock markets”.
Do not fail fast, learn fast instead
Being advised to fail and do so at speed, as if that, somehow, was not a relative thing anyway.
Budget 2020: What’s the fintech impact?
FinTech Futures picks out the fintech tidbits in this week’s announcement.
HSBC posts 47.8% overall pay gap, nearly double industry average
HSBC’s female employees are earning nearly half of what their male counterparts are.
Rizq launches in UK as Sharia-compliant challenger bank
Rizq plans to benchmark itself as close as possible to existing challengers.
UK banks prop up SMEs with £7bn amid coronavirus outbreak
The banks are also deferring customers’ payments on loans and mortgages for up to three months.
Metro Bank partners with ezbob to launch SME lending platform
The bank claims businesses will receive loans in minutes.
Report on cloud transformation in banking: The 2020 state of play
Investigating how a new year and a new decade have impacted the drive towards a cloud-based future for banking.
Lloyds signs customer experience deal with Google Cloud
UK bank to deploy Google cloud services to “improve customer experience.”
Tesco Banks lands Balmer as new chief information officer
New CIO arrives to lead bank’s IT division.
