Lanistar comes under UK advertising watchdog’s microscope
The regulator says it “received complaints about ads for Lanistar”.
Consumer/Personal Finance
Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
New York challenger Current lands $131m in Series C funding round
The capital will go towards Current’s product offerings.
Western Union snaps up 15% stake in Saudi telco’s payments arm
Currently Western Union provides stc pay with money transfer services.
Google Pay unveils integrated banking challenger Plex
Plex will sit in the wider, revamped Google Pay app.
FCA issues Lanistar warning as tech partners disavow connection
UK payments-as-a-service fintech Modulr is among them.
Latvian loan investment marketplace Mintos crowdfunds €6m
Mintos currently hosts 68 lending companies.
UK challenger Finndon lands e-money licence
The start-up plans to launch in 2021.
One of Turkey’s largest fintechs Papara gears up for expansion
It launched in 2016 and became cash flow positive in 2017.
Rebooting savings during the COVID-19 crisis
How then should we think about structuring our savings plan for success?
MSU Federal Credit Union built its own app in 2009 – where is it now?
MSU holds around $5.5 billion in assets and is America’s 48th largest credit union.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
Lawyers turned payment processors serve world’s richest consumers
“We’ve already broken even,” says CEO.
PayNearby turning India’s small-time retailers into ATMs and bank branches
“I wanted to take high-end tech to the bottom of the pyramid,” says CEO.
Uber plans return to financial services with hires “across the board”
The firm is “not ready to announce anything yet”.
Chinese regulator continues to clamp down on dominant fintech players
The CBIRC’s Liang Tao warned fintech lenders at a conference in Beijing this week.
South Korean payments provider Danal to accept crypto
The payments provider will accept digital currencies via ICON’s blockchain ecosystem.
HSBC launches Global Money account in US to rival fintechs
The bank’s aim behind the new service is to create “one global account”.
US fintech lender Upstart Holdings files for IPO
To date, the fintech has raised some $165 million in funding.
Barclays gets 198 applications for Black founder tech accelerator
“I recognised there was more that we could do, and my employer completely backed me.”
Ziglu hires Monzo’s James Sullivan as chief legal officer
James Sullivan worked as Monzo’s head of legal for one year and nine months.
Indian start-up Payzello combines debit, credit and forex into one card
Payzello was founded by 26-year old college dropout, Pruthiraj Rath.
Ex-Volt exec joins newly branded Aussie lendtech Nano
Nano is targeting the low-risk end of the market.
UK challenger Strive launches waitlist for family-focused account
The details of the all-stock deal were not disclosed.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
A banker goes a-banking, volume 7: why can’t we be friends?
What 15 years of digitisation & modernisation have gotten us from the consumer’s point of view? It’s not looking great.
HSBC could start charging for “basic banking services”
It reported a 35% fall in pre-tax profit during the third quarter of the year.
Snoop closes £10m on Seedrs
The Snoop app launched in April.
Nordic challenger Lunar lands $47m Series C
The round arrives just seven months after its €20 million Series B extension in April.
PrimaryBid lands $50m from LSE, Draper Esprit & ABN AMRO
It adds to PrimaryBid’s $8.6 million Series A last year.
Mexico’s credit alternative challenger Klar lands $15m Series A
“We help people build credit by looking at how and where they spend their money.”
UK challenger Lanistar lands £15m from CEO’s family
“Lanistar is not only planning to stand out, but step over all the other start-ups”.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Canadian robo-advisor Wealthsimple lands unicorn status with $87m raise
Wealthsimple serves some 1.5 million users.
Aussie trading app Stake makes leap to LatAm with Brazil launch
“LatAm looks to the US as a beacon,” says COO.
Klarna under investigation by UK regulator for ‘unsolicited’ emails
The Information Commissioner’s Office (ICO) is investigating the claims.
Russia’s Tinkoff launches messenger service in its app
Tinkoff claims to have acquired 1.7 million new credit accounts since the beginning of this year.
Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
