Brazilian fintech Cora raises $10m, founded by Wirecard company creators
Founders Igor Senra and Leo Mendes created MOIP which was bought by Wirecard in 2016.
Banking
Deutsche Bank plans €100m streamlining project for retail ops
German lender continues its dramatic savings plan.
Morgan Stanley plans 1,500 job cuts
US bank wants to protect itself from economic headwinds.
EBA publishes sustainable finance action plan
EU regulator seeks early action on green investment.
Cboe Global Markets agrees to acquire EuroCCP
The deal is expected to close in the first half of 2020.
How to choose the right jurisdiction for opening a company
Brigewest explores how the Middle East has become an attractive region for businesses.
FDIC seeks comment on rulemaking process
US agency looking to get feedback on its regulatory actions.
Findexable report: London bests other European fintech hubs despite Brexit
San Francisco secured the top spot – up from eleventh place last year.
Canadian credit unions launch Interac Debit on Google Pay
Google Pay integration with Interac Debit allows users to pay with their phones.
National Bank of Kuwait replaces its legacy systems with Murex’s MX.3
It will become NBK’s choice for trading, bookkeeping, risk management and more.
UK P2P firm Zopa receives £140m injection to keep banking hopes alive
Zopa’s temporary licence was set to expire.
Start-up Saga launches stabilised SGA token with major bank and exchange advisors
JP Morgan Chase’s chairman and former deputy attorney-general of Israel are on the board.
Legacy players might win the war in 2020
Will fintechs continue to gobble up customers from legacy players?
The 20th Banking Technology Awards winners have been announced
It was a brilliant celebration of excellence and innovation in the banking industry.
UK firms struggling to meet Mifid II reporting requirements
A fifth of investment firms are failing to report properly.
BNY Mellon connects custody capabilities with SimCorp to improve data transparency
BNY Mellon and SimCorp expect mutual global clients out of the partnership
FCA hands out record level of fines in 2019
UK watchdog has handed out £391 million in fines so far in 2019.
US challenger Unifimoney launched by former Samsung Pay exec
The new bank is aiming for a 2020 launch.
Systems integration: A path to improved speed, efficiency and value
System integration bridges disparate platforms so they are better connected and seamless
EU agrees need for rule book on labeling financial products ‘green’
The EU hopes to validate the market and tackle issues of ‘greenwashing’.
Oracle veteran Atherton joins ACI Worldwide
New hire joins ACI Worldwide after 14 years at Oracle.
Hungary’s central bank says major lenders could be “forced out” by fintechs
The bank mentions the pressures on revenues in a low yield environment.
UK regulators take aim at banks’ IT failures
The FCA, PRA and Bank of England have published a paper on operational resilience
Video: Top fintech stories this week – 06 December 2019
FinTech Future’s weekly news round-up.
US neobank Chime quadruples valuation to $5.8b, raises $500m Series E
Chime soars ahead of Brazilian challenger NuBank’s $400 million record fundraise.
CWB Financial Group selects Temenos Infinity for front office ops
The Canadian firm also deploys Temenos T24 in the core.
UK start-up StorkCard launches joint account for parents to manage childcare
Each carer is issued their own card linked to the joint account.
API builder Tink launches in Italy and Portugal, opens Madrid and Milan offices
Tink has bagged transaction data from 32 FIs across the regions.
State Street cuts blockchain developers in potential strategy change
The firm looks to be moving away from a front-to-back DLT implementation.
French challenger Moneway aims to help users control their finances
Countryside neobank preparing to move out of beta.
TSB selects Iress Lender Connect to boost brokerage
Iress calls the deal the first it has signed with a “top tier” bank
Ant Financial to raise $1 billion fund for Southeast Asian and India start-ups
The fund is for payments and online finance start-ups.
The driverless bank
A truly digital organisation can live without one of the five P’s that typically creates friction.
Former Morgan Stanley developers unveil new cryptocurrency exchange
Phemex calls itself “the most trustworthy cryptocurrency derivatives trading platform”.
Italy’s largest bank UniCredit to cut 8,000 jobs by 2023 to reward shareholders
The bank wants to reach a 2023 revenue target of €19.3 billion.
Regulators need to provide clarity on Libor cessation, says ISDA
ISDA writes letter to FCA asking for greater information on Libor phase-out.
Banking app Monese launches “first” cross-border joint account in Europe
Monese wants to offer an alternative to traditional banks’ “red tape”.
Appian Europe 2019: KPMG says banks’ digital literacy is “very low”
KPMG says 80% of bank employees don’t know what unstructured data is.
Temenos inks deal with Egyptian National Post
The firm will be replacing 20 legacy systems in the process.
Starling Bank co-founder joins Winklevoss crypto exchange
Julian Sawyer set to lead Gemini’s European operations.
