Saxo Bank completes acquisition of BinckBank
Saxo intends to initiate the statutory buy-out procedure.
Banking
First-time homebuyer platform Morty raises $8.5m
The funding was led by New York-based investor Prudence Holdings.
RBC launches student experience on mobile app
The ‘Mobile Student Edition’ is designed to tap into the Gen Z market
Mastercard acquires Nets’ real-time payment business
Nets’ Corporate Services business offers a gateway into several European markets
Trov partners with Lloyds and launches white-label insurtech platform
Later this year, Trov and Lloyds Banking Group will release an insurance product on the ‘Powered by Trov’.
Piggy bank start-up ERNIT sells up
One source says the company is trying to see what the market appetite is for a solution like theirs.
Backbase is named a leader in the Forrester Wave™: Digital Banking Engagement Platforms, Q3 2019
Download the Forrester Wave™: Digital Banking Engagement Platforms, Q3 2019
Banking Technology Awards 2019: become a sponsor
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Deutsche Bank creates digital bank Fyrst
Currently the project is suspended by the former subsidiary Postbank.
IIG Bank Malta live with Temenos T24 core and digital platform
It also took Temenos’ financial crime mitigation module.
Elevator Ventures invest in RegTech platform kompany.com
kompany combines AI, robotic process automation and blockchain technology.
Klarna bags $460m equity funding
It’s now the most valuable EU fintech with a valuation of $5.5 billion.
Mizrahi Tefahot selects Temenos’ T24 Transact for capital markets
T24 Transact will interface with trading systems and the bank’s core systems.
Nasdaq uses AI to root out stock-market abuse
It detects irregular trading patterns and alerts officials according to machine-learning.
Federal Reserve reveals real-time payment system plans
FedNow will be available to all US-based banks by 2024.
Standard Chartered Bank launches Shanghai eXellerator lab
It will tap into China’s advances in artificial intelligence, biometrics and mobile payments.
Penta raises €8m in funding round
The round was led by HV Holtzbrinck Ventures.
Almost half a million Monzo customers affected by data breach
The data leak allowed staff engineers access to PINs stored in encrypted log files.
SVS Securities enters administration
The FCA has opened an investigation into the company.
BHF Rural Bank pilots programme with PearlPay
BHF becomes first ever Filipino rural bank to use core banking solutions.
Three lessons traditional banks can learn from their younger siblings
Teamwork, transparency and creating a competitive culture is key.
Federal Bank launches instant online demat account
It is the first bank in India to offer the service.
Western Union and MoneyGram report losses
Western Union is chopping its workforce by 10%.
White paper: Agreement automation – Best practices to remove friction, improve compliance and achieve growth
Download the latest white paper from Onespan
Standard Chartered and Linklogis debut joint transaction on blockchain platform
The bank leveraged Linklogis’ WeQChain platform.
Indonesia shuts down 826 illegal fintechs in 2019
The regulator began a crackdown last year.
Oromia International Bank goes live with ICS Banks core banking system
OIB’s end-of-day processing has been reduced to less than 30 minutes as a result.
UBS partners with BizEquity
UBS’ wealth management arm can access BizEquity’s database of businesses and valuation information.
KKR to acquire majority stake in Heidelpay
The CEO of Heidelpay will remain as a long-term shareholder.
Judo bank breaks Aussie record with $400m round
90% of previous investors took part in the second funding round.
Big banks are driving fintech to the mainstream
And it’s happening faster than you think!
Open banking law to boost fintech competition
It aims to shake up competition for consumers and boost start-ups against the big banks.
Video: fintech news weekly round-up – 29 July 2019
Some of this week’s news, in video format!
Nationwide to open innovation centre in London
The London facility will accommodate around 1,000 workers.
Capital Markets Elite Group picks ERI’s Olympic core banking system
It will run all of its brokerage and wealth management operations.
Top fintech stories this week – 2 August 2019
FNZ acquires GBST, LSE to buy Refinitiv, and more!
CFTC charges trader with spoofing in financial futures markets
The filing and settling charges are against the trader, Benjamin Cox.
Microsoft and Publicis Sapient back world’s first fully digital trade bank
The UAE-based Anglo-Gulf Trade Bank aims to address global trade finance gap.
Are non-bank payment service providers doing enough to protect customers’ funds?
Some heady advice for non-bank PSPs to avoid regulatory action.
Merchants Bank chooses CALMS Compass for floorplan finance
The bank sees 60% growth since introducing self-serve solution.
