bunq CEO: “It’s a marathon not a sprint, we run our own race”
“I like to think of myself as a simple entrepreneur,” says Niknam.
Banking
Standard Chartered joins Cobalt post-trade network
Multinational bank seeks to diversify its services to emerging markets.
South African fintech Jumo raises $55m to fuel geographic expansion
Jumo plans to break into both Cote d’Ivoire and India in 2020.
New Zealand’s central bank launches new market infrastructure with Italy’s Sia
“The extent of change is significant,” says RBNZ, which is deploying to 57 banks.
Open Banking home finance start-up Youtility raises £4.5 million
Venture funding round to be used on new products and new hires.
Lloyds, Virgin Money and Direct Line announce fresh job cuts
The three firms blame changing customer behaviour for the downsizing.
UK fintech B-Social raises £7.8m ahead of ‘Kroo’ rebrand
The fintech has “significantly progressed” with its pre-application for a UK bank licence
Banking Circle nabs first banking licence from Luxembourg regulators
Banking Circle’s operation centers in the UK, Germany and Denmark will turn into bank branches.
Four lessons learned about fraud in 2019
We look back at the year gone by to see what lessons we can take with us this year.
The witches are coming
Our togetherness is our greatest legacy to a world that can and should do better for the next generation of humans.
How Ripple and Azimo are using XRP for remittances in the Philippines
Azimo and Ripple speak to FinTech Futures about their new partnership.
Tonik digital bank raises $6m as it gears up for launch
It’s set to be the first of its kind in the country.
Assaray Trade and Investment Bank kicks off digital overhaul with Temenos
Libyan bank signs for Temenos Infinity and Temenos Transact.
Canada’s RBC to create US digital bank for “super-affluent” consumers
It will arrive in the US later in 2020 or early next year.
Malaysia’s biggest telco Axiata reveals plans to bag digital banking license
The country’s central bank announced its plans in December to issue up to five licences.
The impact of COVID-19 on the Chinese market
The effects of the coronavirus on the local fintech market isn’t all negative.
Wells Fargo agrees to pay $3bn fine for fraudulent account furore
US bank agrees to pay hefty settlement fine on ongoing probe.
Revolut bags $500m from TCV to drive daily account usage
The challenger wants to “accelerate daily usage of accounts”.
Banks rely on big bang system replacements to cope with real-time demand
An evolving customer base demands accelerated time-to-market, says Oracle’s Vikram Gupta.
Mastercard plans to triple Irish workforce with 1,500 hires
Credit card giant leases three new buildings in Dublin.
Sogexia nabs Luxembourg licence, starts migrating 180k UK customers
Neobank mitigates Brexit impact with new EU payment licence.
Data firm Akoya spun out as independent company by FMR
Akoya goes it alone after less than a year under FMR umbrella.
JP Morgan plans launch of digital consumer bank in UK
The US bank has been in discussions with UK financial regulators.
Central bank of Brazil plans launch of QR-based instant payments system PIX
All banks with more than 500,000 customers will have to use the new system.
Credit card start-up Tribal Credit secures $5.5m in seed funding
New firm aims to help start-ups in emerging markets.
Australia’s regulator flags new internal bank stress-testing framework
APRA will consult the industry on the development of the framework in H2 2020.
How APIs overcome the challenges of digital transformation
No transformation is pain-free.
Video: Top fintech stories this week – 21 February 2020
FinTech Futures’ weekly news round-up.
Bank of Singapore appoints new chief data and innovation officer
Celine Le Cotonnec will join the institution in its newly created role.
Bremer Bank aims to revamp digital banking with Backbase
Minnesota bank looks to boost customer experience with Backbase tech.
Priority One Credit Union kicks off conversion to Episys core system
Symitar system will save credit unions “several thousand” per year.
Morgan Stanley to buy E-Trade for $13bn in bid to tap online traders
The Wall Street investment bank is branching out from its wealthy client base.
Sohar International nabs Nordea’s ex-chief digital officer
The banking exec joins the Omani bank at time when profits are looking up.
Barclays spies on staff, CEO investigated for Epstein links
The technology tells staff to mute their phones and avoid breaks.
The trade in human beings: How financial institutions and tech can have an impact
Banks in particular can do a lot to curb sex trafficking.
UK’s new £20 note arrives as campaigners warn cash system could collapse
Access to Cash Review calls for new laws to protect cash as the digital revolution advances.
UBS appoints ING’s Ralph Hamers as next chief executive
Hamers will step down from ING at the end of June and join UBS in September.
US banks debut cloud-based Finastra Phoenix platform
Commerce National Bank & Trust and Commencement Bank deploy Phoenix on public cloud.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Aafaq Islamic Finance goes live on Infosys Finacle
UAE institution revamps payments, core, and Islamic functions.
