Trustonic lands security deal with South Korea’s biggest bank
“KB Bank are taking a more open market approach,” says Trustonic.
Business-to-Business/B2B
Wirecard, SAP and Futur/io launch ‘Innovation Now’ to assist merchants amid COVID-19
Merchants will be able to find “assistance packages” through the platform.
MatchMove buys strategic stake in Shopmatic to build SME offering
MatchMove is slowly building up its armoury to morph into a full digital bank.
Singapore’s robo-advisor Smartly shuts, cites “intense” competition
Vietnamese owner VinaCapital Group made the decision to wind business down.
Poland’s KIR issues e-signatures with Cryptomathic
The release will push along deals otherwise on hold due to social distancing measures.
Nymbus launches loan processing system for US banks to deliver COVID-19 relief
Nymbus says it has digitised the entire Paycheck Protection Programme (PPP) loan process.
CRIF to buy AI fintech Strands
The deal is expected to close in the “coming weeks”.
Siam Commercial Bank taps Ripple to provide cross-border payments
The Thai bank aims to cater to both individuals and businesses.
Colorado National Bank rebrands to Transact Bank and goes live with Fiserv
CNB was bought by the owners of Latvian fintech Transact Pro in 2018.
South Korea’s KB Kookmin Bank to launch cryptocurrency custody service
The bank filed a trademark application at the end of January.
Phyre secures $1.7m to develop its e-wallet in Bulgaria
The fintech works with two major telcos in Bulgaria.
Fintech powerhouse: Understanding the rise of Singapore
Singapore has emerged as a global magnet for fintech entrepreneurs.
Pleo offers new customers free services until July amid coronavirus
“With this uncertainty set to rumble on […] Pleo wanted to do something to help.”
Moven shuts all consumer accounts, pivots to B2B-only service for banks
Founder says “major multi-year funding” was withdrawn due to coronavirus.
Russia’s PM introduces new bill for fintech sandboxes
These new sandboxes will be subject to lighter regulations.
A look under the hood of ABN Amro’s internal Covid-19 operations
The bank admits there were some VPN teething issues.
US non-bank financial firms push Congress for SME lending relief
Legislators are currently working on a bill which addresses small business loans.
Jumia steps in to assist Africa amid rising coronavirus numbers
Jumia will help various African governments distribute masks to hospitals.
HSBC joins Alibaba to offer Hong Kong’s online merchants quick loans
This is the first time HSBC will use third-party data to approve trade finance loans.
Will Asia’s Big Tech European expansion stick?
Asia’s mega funding rounds make Europe’s look like child play.
Goldman Sachs becomes part of SAP’s Ariba Network
More than 4.6 million companies make up the Ariba Network.
Path Solutions signs Somalian challenger MyBank for iMAL core
Path Solutions says it now has a “stronger focus” on the Somali market.
HSBC’s $6bn structural overhaul under threat from COVID-19
The global bank may have to delay its plans if the contagion becomes a long-term issue.
Video: Top fintech stories this week – 20 March 2020
FinTech Futures’ weekly news round-up.
Appian unveils software to help banks operate amid coronavirus outbreak
The application is only available to companies with more than 1,000 employees.
Wirecard expands ecommerce partnership with WeChat Pay
European merchants can integrate WeChat Pay “in just a few minutes”.
MatchMove applies for one of Singapore’s full digital bank licences
The company has teamed up with three other bidders.
Disrupting small business banking
I think what we (business owners) really want is an experience driven bank.
Square lands conditional banking licence from FDIC
The bank will be based in Utah.
Bank of England dips into US repo to lend banks $15bn
It’s the largest sum the central bank has issued since the financial crisis.
Penta lands $20.3m to help German and Italian SME
The round was co-led by RTP Global and HV Holtzbrinck Ventures.
TransferWise teams with Alipay in latest Asian expansion
TransferWise customers just need the recipient’s name and Alipay ID.
Iwoca launches lending platform to help banks and fintechs tap UK SMEs
The platform has already bagged Monese and Xero as a partners.
Swift’s ISO 20022 migration set back a year to November 2022
“The new approach will avoid short-lived investments by customers,” says Swift.
Expense management start-up Payhawk lands $3.3m seed capital
The round was led by N26-backer Earlybird.
Travelex owner Finablr prepares for insolvency
Finablr processed $115 billion in transactions in 2019, and more than 1,500 firms rely on it.
Monzo launches first business banking accounts
UK challenger bank steps into the business space with new accounts.
Scotiabank commits to helping Canada’s emerging AI start-ups
The bank will give start-ups and tech entrepreneurs access to funding and expansion opportunities.
Crypto start-up Bakkt lands $300m Series B from Microsoft and PayU
The fundraising was closed last Friday, the same day Bitcoin experienced a multi-month low.
Underpinned helps companies pay freelancers with Banked
“The number of people choosing freelance work has grown rapidly,” says UnderPinned CEO.
