Part two: Who is best positioned to provide marketplace banking?
Three strategies for standing out in a market: cost leadership, differentiation, and focus.
Banking
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.
Tink raises €90 million to power European expansion
Swedish open banking firm brings funding total close to the $200m mark
BMLL appoints Paul Humphrey as CEO
Johannes Sulzberger, outgoing CEO, will remain on the board as a non-exec director.
Siemen’s Mendix builds Rabobank’s new banking portal RaboDirect
The new portal will process front and back-office transactions.
Part one: What is the best model for marketplace banking?
A two part series examining marketplace banking by Oliver Mitchell, CEO, Moneycado.
The future of regtech is data-driven: How to stay ahead of the curve
There are no shortage of challenges that will need to be addressed through innovation.
Video: Top fintech stories this week – 17 January 2020
FinTech Future’s weekly news round-up.
Atlantic Financial Group picks Oracle’s Flexcube
Another win for Oracle in Africa with Atlantic Financial Group.
PeoplesBank opts for Nymbus onboarding and marketing tech
Nymbus to underpin West Massachusetts’ largest community bank.
Fintech Autenti lands $4.48m from three major Polish banks
Alior Bank, BNP Paribas and PKO Bank Polski have all invested.
UK regulators fire Libor warning shots as deadlines loom
The FCA and Bank of England tell industry the time to act is now.
P&N Bank reveals customer data accessed in data breach
Names, addresses and bank balances may have been accessed in the breach.
Lloyds Bank teams with Microsoft to speed up its digital transformation
The partnership is part of the bank’s £3 billion commitment to technology investments.
The problem with better banking
Surely banking customers want and deserve better banking?
When it comes to supporting the underbanked, the best solution might be a little old school
Community banks and the underbanked need one another.
Chinese regulators planning digital banking go-ahead
New set of rules could see a bevy of digital challengers in China.
US challenger Unifimoney signs integration deal with UMB Bank
US challenger inks deal with UMB for account infrastructure.
ICICI Bank launches portal with around 250 APIs for fintech devs
The bank offers four times the amount of APIs launched by Yes Bank last year.
