Spend management platform EnKash launches Olympus solution for businesses
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Banking
Bank of America fined by US regulators over fake accounts and junk fees
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
FinTech Futures celebrates 40th anniversary with unforgettable summer party in London
Watch the highlights video from FinTech Futures’ 40th anniversary summer networking party.
ICYMI fintech funding round-up: Efficient Capital Labs, CapStack and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures Jobs: Is the era of “move fast and break things” over?
Explore thousands of open roles on the FinTech Futures Job Board today.
IC Credit Union selects Alkami for tech stack modernisation
The credit union intends to create a modernised user experience for its 37,000-strong member base.
AI-driven financial services must also champion fraud prevention, FCA warns
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
Monzo reportedly eyeing merger with Nordic neobank Lunar
According to Bloomberg, the potential deal would form part of a European expansion push for Monzo.
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
What the FinTech? | S.4 Episode 11 | Blockchain and the future of corporate actions processing
In the latest episode of the podcast, we’re joined by Whikie Liu, Strategy Director, Capital Markets at Swift.
Strategy is good, but constraint awareness is better
Be honest and mindful of your constraints and make choices that mitigate their impact.
The Bank of London formally submits application for EU banking licence
The firm is setting up a new base in Luxembourg and will invest €200m in the country and across the wider EU.
Fiinu to scale back operations amid continued efforts to source fresh funding
Fiinu’s cost reduction plans include staff redundancies.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Citi launches new digital commercial banking platform
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
UnionPay connects with Cambodia’s central bank over QR code interoperability
The agreement was confirmed by the signing of a MoU in Phnom Penh, Cambodia’s capital city, this week.
Romania’s BRD extends digital banking partnership with Backbase
Backbase will enhance BRD’s digital banking services and customer experience.
China imposes hefty fines on Ant Group and Tencent as it looks to normalise supervision
Ant Group and its subsidiaries have received a penalty of $984.3m, and Tenpay has been slapped a fine of $413m.
How cloud native observability can be the right choice for your firm
Real-world examples and practical insights on how to harness the power of cloud native observability.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
Report: Global banks and the transformation illusion slowing progress
There’s a direct correlation between the rate of a bank’s digital transformation and its ability to win and retain customers.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
Mexico’s BanCoppel taps Temenos for core banking overhaul
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
Banking Technology Magazine July / August 2023 issue out now
Cover story: THE BEST OF BANKING TECH USA – Winners and pictures from an amazing night.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Platform One appoints former SEI operational director Terry Leavy as new COO
Leavy joins the company following a decade-long stint at US financial services firm SEI.
Let’s get physical!
The irony of the next wave of tech advancement is that it may force us back into focusing on the real world.
UniCredit enters next phase of transformation with leadership restructuring
The appointments signal a shift into the next phase of UniCredit’s development.
Video: Strands and Akbank at Money20/20 Europe – Business financial management for SMEs
Strands and Akbank discuss how they are working together to support SMEs with their banking needs.
DBS launches e-CNY merchant collection solution in Mainland China
With the solution, corporate clients of DBS China will be able to collect payments from their customers in e-CNY.
Britcoin privacy preserved as Bank of England taps Nuggets for identity layer
The layer will maintain user privacy and offer protection from fraudulent activity and money laundering.
Nine UK banks tap Mastercard for new AI-powered fraud risk solution
Lloyds Bank, NatWest, Monzo and TSB are some of the UK banks partnering with Mastercard for its latest offering.
Former Goldman Sachs partner joins Clowd9 as CFO
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
Indonesia’s Allo Bank taps Tencent Cloud to enhance digital banking services
Tencent Cloud will deploy its database management system TDSQL, to help the bank manage data efficiently.
Assuming you are not dead
Open-ended plans rarely come good. When do you know the work is over?
Mbanq’s BaaS offering supports US debut of SME-focused Cheqly
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
