Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Challenger Bank
UK challenger Monument to tap Britain’s mass affluent
The fintech has raised £10 million to date.
Monzo’s co-founder Tom Blomfield leaves its board
According to a Companies House filing, his termination occurred on 17 June 2020.
ChannelMeter raises $4m for content creator banking service
The start-up is launching its new service ‘Creator Cash’ this month.
PBI lands €45m & acquires salary-backed loans business
The fintech was founded by ex-UniCredit execs.
Vietnamese digital bank TNEX to create consumer-merchant ecosystem
“We’ve started a bit of a fintech revolution here,” says MSB’s CDO.
US challenger Point lands $10.5m for debit-credit hybrid
Rewards rest on a point-based system.
UK opens virtual fintech trade mission to APAC
The fintech deal follows FTA talks between the UK, Australia and New Zealand.
Allica Bank goes live on Profile platforms
FMS.next and RiskAvert deployed at SME challenger bank.
Société Générale to acquire French neobank Shine
The deal is thought be be around €100 million.
Lanistar partners with Jumio ahead of “polymorphic” debit card launch
Lanistar landed a $2.5 million seed investment in March.
Memo Bank launches business offering and lands €20m
The funding round was led by Paris-based BlackFin Capital Partners.
UK challenger Picnic Bank to address ‘fintech for good’
The start-up is looking to raise £5.5 million.
Be Money looks to tap America’s 11m LGBT+ community
The start-up is planning to set up shop in Los Angeles.
RBC-backed start-up Mydoh launches banking offering for kids
The app and smart card launched more than two weeks ago.
Société Générale launches new Banxup account for teens
The bank has also overhauled its app for adults.
Icelandic challenger bank indó selects Enfuce
The challenger is gearing up for a launch later this year.
Philippines challenger Tonik raises $21m ahead of 2020 launch
The bank has raised $27m since being founded in 2018.
Monzo co-founder joins new UK challenger bank GBB as non-exec chair
The soon-to-be bank will offer property development loans.
Is Monzo’s 40% drop in valuation a sign of things to come for tech start-ups?
Investors in the company believe the drop is nothing more than a minor blip.
Revolut’s vice president of growth set to leave
Soon to be former VP joined the start-up a year ago.
Tinkoff launches automated micro-investing service
The bank is offering its 10 million customers an ‘Investment Box’.
Former Diamond Bank CEO launches Nigerian start-up Sparkle
Sparkle already has a banking license from Nigeria’s central bank.
Mobile banking platform Vivid Money launches in Germany
The challenger is working with solarisBank and Visa.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
UK fintech Minted to launch in July with 2021 digital bank plans
The fintech is sharia-compliant and follows AAOIFI rules on gold.
UK e-commerce bank start-up YAN set to launch in October
The fintech says it will donate “at least” 10% of its revenue to charity.
Taiwanese challenger Next Bank to launch this year on Temenos
Chunghwa Telecom owns a 41.9% stake in Next Bank.
Monzo cuts 120 jobs in its UK head office
The redundancies account for roughly 8% of the start-up’s workforce.
GoBear lands $17m to accelerate transition into “full-fledged” financial service
The fintech first launched in 2015 as a metasearch engine.
Dubai fintech Jingle Pay to launch digital banking in UAE
The start-up brands itself as a ‘Super App Neo Bank’.
San Francisco neobank Aspiration raises $135m in Series C round
The socially conscious fintech plans further growth with cash injection.
Pacific National Bank launches digital challenger Facile with Nymbus
The bank is using Nymbus’ SmartLaunch technology.
Ecommerce platform Shopify to launch ‘Shopify Balance’ for businesses
The account offering will land in the US later this year.
Revolut Business integrates with Clear Books for UK users
Clear Book’s bank feeds will refresh four times daily.
Monzo’s Tom Blomfield swaps CEO title for president role
US CEO TS Anil will also be the bank’s UK CEO.
Former Sberbank employee to tap Europe with challenger Intruder
Payments will be able to work in messenger apps via a bot.
Indian neobank Walrus aims for teenage market
Newly launched bank wants to help teens learn about “bad world of money”.
Video: Top fintech stories this week – 15 May 2020
FinTech Futures’ weekly news round-up.
Insurance financer Bexhill UK applies for banking licence
Founded in 2000, Bexhill UK works with roughly 250 brokers.
