UK challenger Monument lands restricted banking licence
Monument has raised £20 million to date.
Consumer/Personal Finance
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
South African challenger Bettr prepares for 2021 launch
“Young people are being excluded from wealth-generating services,” says CEO.
Goldman Sachs-backed Kaspi revives London IPO plans
The fintech holds a 65% market share of Kazakhstan’s digital payments flow.
Argentina’s money management app Ualá launches in Mexico
“It’s a much better product than we had in Argentina [upon launch],” says the CEO.
JP Morgan-backed Greenlight joins unicorn club with $215m Series C
The start-up says the new funding will be used to push its customer growth further.
The shifting ground of payments: are banks and SMEs aligned?
It’s safe to assume that in time, every business and consumer will expect immediate settlement as a norm.
Tech Nation’s third fintech cohort challenges London bubble
“What was striking is the increase of such businesses set up outside London and by women.”
Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
Revolut faces lawsuit in Romania over blocked account
Revolut faces 3,911 complaints so far this year, as compared to its 2,487 for the whole of 2019.
UK challenger Samie to launch in 2025
The start-up claims it hit the 500,000 future customer mark in mid-2019.
CleverCards CEO: There’s only going to be one winning challenger bank
CleverCard’s Kealan Lennon reckons the market isn’t big enough for so many neobanks.
FinovateFall 2020: The one-app strategy is unit banks all over again, says Google
Network centrality isn’t new to banking, says Google Cloud head.
Subaio launches outside Nordic home with ABN Amro
To date, the 25-person fintech has signed contracts with seven banks.
Supplement: FinovateFall 2020
Read our free FinovateFall Supplement, packed with fintech goodness!
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
Klarna set to nearly double valuation to $10bn
Klarna is looking to raise half a billion from a mixture of new and old investors.
To win the battle of banking, you need a digital war room
Here, banks can get visibility into every single process in their business as they actually behave.
What the Fintech? Episode 13 | Commerce in the wake of COVID-19
Travis Skelly tells FinTech Futures all about how Citi Ventures evaluates ecommerce companies.
First Direct nabs new CEO from HSBC
Pitt comes with nearly 11 years banking experience.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
Monzo introduces ATM withdrawal fees
Users may have to pay a fee when withdrawing upwards of £250 from an ATM.
Brazilian challenger Nubank lands $300m
The raise was spotted in a SEC filing.
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.
Singapore fintech Atlantis enters India with challenger Neo
Atlantis believes market adoption in India will be particularly successful.
Revolut customers got paid late last week after technical glitch
Several users said they couldn’t get through to an agent.
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.
Fronted lands seed investment from Monzo-backer Passion Capital
Fronted wants to help renters finance their rental deposits.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
R8 relaunches as Mode, appoints ex-Alipay CEO Rita Liu as CCO
Mode is one of R8’s two entities.
Standard Chartered Korea brings banking to consumers’ keyboards
“Banks must weave their services into customers’ digital lives”.
US challenger for teens Copper lands $4.3m
The start-up has built an advisory board of teens.
Zopa launches its first fixed-rate savings accounts
The range of accounts pay 1.05%, all the way up to 1.3%.
JP Morgan to launch digital lender in UK early next year
The new cloud-based venture will sit under the Chase brand.
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.
Goldman Sachs & Barclays among bidders for GM’s credit card business
GM’s credit card business has about $3 billion in outstanding balances.
Banks need a single brain
Every bank needs a single brain to anticipate the needs, wants and quirks of every customer.
The social-savvy wave of entrepreneurs
They will push traditional banks to pivot their offerings once again.
