UK challenger Monzo in talks with SoftBank for £100m fundraising
Monzo’s co-founder met up with the Japanese investor in Mayfair this month.
Banking
Sudan’s Al Khaleej Bank selects Path Solutions and iMAL
Islamic bank looks to become leader in its market.
Kenya’s Standard Investment Bank plans $100m FX-focused fund
Mansa X as the fund is known, returned an average 24% and closed at $3 million.
FCA calls UK’s current overdraft market “dysfunctional”
The regulator is asking banks to explain their 39.99% rates.
Bank-backed blockchain trade platform Contour launches in Singapore
Contour is built on R3’s Corda platform.
Central Bank of Egypt pilots eKYC solution for financial inclusion
Egyptian regulator also plans internet banking overhaul.
UK’s PSR seeks input on New Payments Architecture competition issues
Regulator calls for comment ahead of 2021 launch.
EXCLUSIVE: Woodforest National to Implement Finxact on Microsoft Azure
Furthermore, US-based Finxact has also made its first core banking system sale abroad – in Thailand.
Tally launches 2.0 version of UK Faster Payments-linked app
Tally is not a cryptocurrency, because it’s linked to a tangible asset.
Nucleus Commercial Finance gains £25m funding line from Paragon Bank
SME lender plans to boost support for customers.
Viva Wallet buys Greece’s first digital challenger Praxia Bank
Praxia was on the verge of being dissolved last month.
Rise of the machines: AI and machine learning in financial services
FinTech Futures launches its first industry report for 2020. Download it today!
White paper: Payments outsourcing – pros, cons & considerations that should be on your radar
Practical guidelines for banking institutions to consider when choosing a vendor.
How Canadian start-up Cinchy is transforming data for banks
Exclusive interview with Cinchy’s CEO. “Think of it as the end of fragmentation.”
Goldman won’t take companies public without at least one “diverse” board member
GS itself has four women on its board of directors, out of 11 total members.
Neocova gains $9.5m backing from community banks for AI-led tech
Vendor finds investment from six community banks.
Finnish SME banking service Holvi launches in UK
The challenger already has 200,000 customers largely in Finland and Germany.
Part two: Who is best positioned to provide marketplace banking?
Three strategies for standing out in a market: cost leadership, differentiation, and focus.
Video: Top fintech stories this week – 24 January 2020
FinTech Future’s weekly news round-up.
BNP Paribas extends open banking partnership with Tink
French banking group now deploys Tink in Belgium and Italy.
What the “decade of the data breach” can teach us
Organisations can simply no longer trust that an online user is who they claim to be.
Minnesota’s Sentry Bank selects CSI NuPoint
St. Cloud bank goes with CSI to power core processing and digital.
Monzo bank accused of “freezing accounts for no apparent reason”
A private Facebook group, “Monzo stole our money”, has grown to 1,080 members.
Switzerland’s Neon scraps abroad card fees to win more users
The challenger tries to win ground from UK’s Revolut and Germany’s N26.
Living in the not knowing
Building the future is not about what you know. It’s about what you dare believe is possible.
RBS sees flurry of executives leave including BÓ’s CEO
The bank sees a major reshuffle under new chief Alison Rose.
HAB Bank implements Jack Henry’s commercial lending platform
New York-based community bank wants to boost its commercial ops.
Qonto raises $115m round led by Tencent
The SME challenger bank says it’s the largest funding round ever for a French fintech.
Goldman cuts personal lending after launching Apple card
Its partnership with Apple has taken some of the momentum away from Marcus.
Central banks in Europe, Japan and Canada assess potential digital currencies
Central banks in Canada, the UK, Japan, Switzerland, and Sweden are teaming up.
UK challenger Vive gets restricted licence to help bad credit scorers
Vive aims to fully launch in the second quarter of 2020.
Islamic banking app Niyah launches in UK
The challenger says the UK’s Muslim community has been “financially isolated”.
DBS launches QR-code based b2b payments
DBS’ QR-code based solution is powered by DBS Rapid and DBS Max.
Canada’s RBC files patents for AI inventions as bigtechs soar
Ten AI patent applications were submitted by RBC across 2019.
Tonik digital bank selects Finastra Fusion Essence
The Philippines’ first digital bank selects its new core.
A thousand EU financial firms plan to open UK offices after Brexit
EY estimates that around 7,000 positions would be relocated from London to Europe.
ICAP founder to invest £25m in new fintech fund Element Ventures
It’s one of the largest investments Spencer has made since selling Nex to the CME.
For the sake of fraud fighting: how to secure online transactions on the Russian market
All the new forms of digital interaction are getting particularly vulnerable to fraudulent activities.
Dubai-based challenger OG Bank selects Bankable to tap UK and Germany
The bank says ‘OG’ stands for ‘on the go’.
Azimo shake-up sees appointment of new CFO and COO
Remittance fintech looks internally for C-level replacements.
