Raphaels fined £1.9m by FCA and PRA for outsourcing mismanagement
The bank didn’t properly manage the outsourcing of payment services.
Banking
First Marco Polo trade finance pilot between Asia and Europe
Bangkok Bank and Commerzbank test DLT-based trade finance solution.
SoFi confirms $500m investment led by Qatar
SoFi’s total capital now stands at $2.3 billion.
Plaid launched in the UK
Following the acquisition of Quovo in a $200m deal.
Yapily welcomes $5.4m for API platform
The London fintech has seen its niche in open banking.
Founders Bank anticipates EU licence in Q4
Malta and London-based start-up is backed by crypto exchange Binance and venture capitalists.
Step and Kard target teen market for banking
Both banking apps have launched their waiting lists.
Nigerian banking start-up favours Oracle FSS
EXCLUSIVE: Titan Trust Bank selects Oracle FSS for its core and digital banking technology.
On becoming, and the burden of experience
Experience means you no longer have excuses for not doing the things you know need doing.
Emirates NBD builds AI-enabled bank with AWS
The Middle-Eastern bank is applying tech to customer sevice.
Swedbank partners with Kaching Retail to develop mobile payments
The bank has also become a key investor.
River Valley Community FCU becomes first in Arkansas to adopt POPi/o video banking
The credit union has more than 7,200 members.
Case study: ATB Brightside – shining a light on digital banking
All about the new challenger bank in Canada and its tech.
Open Payments targets Nordic and European markets with €1.2m seed round
Offers access to European banks via one API.
New APP scam protection code comes into force
Victims now more likely to get their money back.
Regtech ClauseMatch closes $2.5m venture debt funding with SVB
The money will fund further expansion into Europe and Asia.
Teen banking fintech Pixpay raises €3.1m launch funding
The Paris-based start-up was founded four months ago.
Zero closes $20m Series A to serve 200,000-strong waitlist
Offers a combination of debit and credit card.
Video: fintech news weekly round-up – 28 May 2019
News on Facebook, Monzo, Transferwise, and more!
Infosys to power GTB’s digital strategy in Myanmar
Understood to be replacing 3i Infotech’s Kastle core banking system.
Top fintech stories this week – 24 May 2019
TransferWise just became even bigger, Nuvei Bidco acquires SafeCharge, and more!
UBX and Temenos to deliver inclusive digital banking to Philippines
The aim is to reach millions of people over the next five years.
Student digital current account Loot enters administration
The fintech collapsed after a sale to RBS fell through.
Deutsche Bank’s suspicious transaction reporting hit by software glitch
The problem has prevented flagging for almost a decade.
The profound romance of plumbing and core banking infrastructure
What if, by treating the core capabilities as utilities we could totally change the game?
Capgemini powers Skandiabanken’s new mortgage platform
The new tech uses the Pega Platform, the digital process automation (DPA) platform from Pegasystems
HSBC chooses Globality’s AI self-serve procurement platform
Solution avoids limitations of analogue legacy systems.
Allegacy FCU takes Fiserv core and other applications
The institution is understood to be replacing FIS’ old Miser system.
DevOps firm CloudBees gets capital injection from HSBC
HSBC uses CloudBees Core platform for its software delivery system.
European banks sign up to gpi trial on TIPS
Designed to smoothen out real-time payments in Europe.
TransferMate lands major deal with WellsFargo
The financial details haven’t been disclosed.
Lloyds announces new digital tech hub in Edinburgh
Plan will create 500 high-skilled jobs over next 18 months.
Money transfer app Pangea looking to offer checking accounts
More firms are looking to jump into the challenger bank world.
Video: fintech news weekly round-up – 20 May 2019
Fintech investments, and how Brits use fintech services!
TransUnion acquires TruSignal
Financial details remain undisclosed.
Major banks pledge $50m to develop digital cash settlement system
The names of the banks have not been disclosed.
ATMs decline for first time as cash demand falls
But ATMS are on the rise in developing markets.
Swedish fintech Minna Tech receives €5.6m funding
The subscription management tech now aims to make customer experience easier.
BNP Paribas makes a Magic Leap to teleportation meetings
Meetings can be held via hologram in five locations.
OpenFin raises $17m for financial desktop innovation
This brings OpenFin’s total funding to $40m.
