Supplement: FinovateFall 2020
Read our free FinovateFall Supplement, packed with fintech goodness!
Business-to-Business/B2B
Deutsche and Innopay talk open banking beyond PSD2
FinTech Futures sits down with Deutsche Bank and API consultancy Innopay.
Santander spins out Innoventures successor Mouro Capital with $400m
The bank has doubled its investment into its VC arm.
Mastercard unveils virtual CBDC testing environment
A switch in tactic from Mastercard, which wasn’t always in favour of CBDCs.
Regulatory sandbox at heart of Egyptian fintech boom
“For the first time, we are seeing a key dialogue with central players,” says Paymob.
Wirecard’s UK subsidiary WCS confirms Railsbank deal
Update 10/09/2020: An asset purchase agreement with Railsbank subsidiary PayrNet Limited has been signed.
Hungarian fintech PeasyPay continues hand and face payment roll out
In the UK, the start-up is working with taxi drivers in Glasgow.
Fintech Mode joins Hut Group wave with London IPO listing
Mode anticipates a valuation of around £40 million.
FIS claims early cloud investment prevented COVID-19 disruption
A number of US banks suffered downtime in April due to COVID-19 stimulus cheques.
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
Metro Bank unveils new “15 minute onboarding” for SMEs
The bank’s new online journey auto-populates business data.
PSP fintech Mollie joins unicorn club with €90m Series B funding round
Mollie was bootstrapped until its first funding round last year.
Back & middle-office disruptor LemonTree launches first product
The start-up is challenging clients to get up and running in 90 days.
EPA lands new CEO in ex-Informa exec
Agnew will combine both his business strategy and event management experience.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
RTGS Global kicks into gear to disrupt correspondent banking
RTGS has built its system on Microsoft Azure.
Singapore fintech GoBear lays off 11% of workforce
The fintech landed $17 million in May,
Wirecard sells communication services arm to German start-up IDnow
IDnow will keep the majority of the arm’s 150 employees.
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
ABN AMRO’s business finance fintech New10 loses CTO
“[We’ve] firmly cemented the digital lending category in the Netherlands,” says Boersma.
Pan-African challenger Union54 to launch in 2021
Both Union54 and Zazu were founded by Perseus Mlambo.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
US payments start-up Finix lands $30m from Lightspeed & Amex
To date, Finix has raised $96 million in venture capital.
Klarna’s losses widen following first year of negative profit
Profits have been slowly declining for the company.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
US credit fintech for minorities Esusu lands £2.3m
More than 5,000 renters in the US have applied for Esusu.
ID start-up Socure lands $61m from Citi, Wells Fargo & MVB
The start-up was co-founded back in 2012.
R8 relaunches as Mode, appoints ex-Alipay CEO Rita Liu as CCO
Mode is one of R8’s two entities.
JP Morgan’s blockchain platform Quorum moves to Brooklyn
JP Morgan has also made an undisclosed strategic investment in ConsenSys.
Xero to acquire Aussie invoice lending platform Waddle for $57m
Xero’s shares hit more than AUD 100 on 25 August.
Wirecard lets 730 employees go, more than half its workforce
The Munich court opened insolvency proceedings on 25 August.
India’s ICICI Bank uses satellite data for farmers’ credit assessments
The bank wants to scale up the service to 63,000 villages.
Wesleyan Bank bags former TSB exec as digital head
The firm also hired a new chief financial officer in June.
LA start-up AmplifyX lets investors build portfolios around musicians
From 2015 to 2019, the entire music industry grew sales at a 9% rate.
iwoca and Billon land funding via UK’s Future Fund
So far, the fund has invested in around 320 companies.
Afterpay acquires Spanish BNPL to advance into Europe
Afterpay already owns UK BNPL player, Clearpay.
US unicorn AvidXchange launches secondary offering
AvidXchange says it’s had a three-year growth rate of 133%.
2020 PayTech Awards hosted online by Zoe Lyons
Join our celebrity host Zoe Lyons for PayTech Awards 2020! Free broadcast on 10 September – everyone is welcome.
