US buy now, pay later fintech Sezzle in $60m raise on ASX
The start-up still needs to close $5 million.
Consumer/Personal Finance
Paytm to buy insurance firm Raheja QBE for $76m
Raheja QBE has around 41,000 customers.
Deutsche Bank faces $150m fine for Jeffrey Epstein ties
“The bank’s failure to recognise this risk constitutes a major compliance failure.”
Estonian fintech Planet42 to tap South Africa’s alternative car finance market
The fintech landed €2.2 million in seed funding last month.
HSBC wants to double mobile users by 2022
The bank wants to generate more revenue per customer.
Newly licensed RevoluPAY taps global remittance market
The fintech landed its PSD2 licence in Spain at the end of May.
OBIE UK’s open banking body launches app store
The launch date was moved up because “open banking can make life easier in lockdown”.
UK challenger Picnic Bank to address ‘fintech for good’
The start-up is looking to raise £5.5 million.
LenderClose appoints Martina Schubert as its CTO
She joins LenderClose with more than 25 years in information technology leadership experience.
Earnings on demand fintech Hastee rolls out Visa debit card
“Users visit our app on average one and a half times a day,” says CTO.
Breaking down challenges for challenger banks with Ohpen
“It’s not just about a sexy frontend or onboarding,” says CCO.
Ugandan multi-currency wallet Eversend crowdfunds $706,000
The start-up has issued 8.74% in equity to investors.
Financial text message platform Stackin’ lands $12.6m
The fintech says it has more than one million subscribers in just one year.
Standard Chartered to launch new savings product, calls for help from fintechs
The bank has set a ‘challenge’ for start-ups on its ‘Fintech Bridge’ network.
China’s largest bank rolls out more deposit services with Alipay
Alipay has been collaborating with ICBC since March 2005.
How VibePay is quietly changing the UK fintech Twitter game
British grime MC JME donated £1,200 to the Vibe community last week during one of its social media events.
Challenger bank Lunar partners with Danish esports firm Astralis
Denmark and Sweden lead European esports usage.
UBS to set up fintech venture fund to speed up its digitisation
The bank will make investments between $10 million and $20 million.
Budgeting strategies for government stimulus payments
Suggestions for how households could maximise the impact of their payments.
Nordea partners up with Tink on open banking
It’s set to launch for the bank’s users in Norway, Finland and Denmark “in the coming months”.
HSBC launches e-wallet PayMe for teens in Hong Kong
The adult version already has 1.9 million customers across Hong Kong.
Green Dot bags Walmart exec as part of bigger strategic overhaul
The firm also appointed a new CEO in March.
Marcus cuts easy-access saver rate again to 1.05%
On 19 March, the Bank of England cut its base rate to 0.1%.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
SadaPay drives contactless adoption with Mastercard in Pakistan
The digital wallet aims to deliver three million cards over the next five years.
Alpian lands $12.6m in Series A
Alpian is applying for its own banking licence.
UK fintech Fintuity offers free financial advice to NHS staff
The NHS will have access to the fintech’s online platform and financial advisers.
Revolut launches deposit-insured bank in Lithuania
Revolut says it also plans to roll out consumer lending services to the region.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
Investing app Stash lands $112m Series F led by LendingTree
This month Stash also surpassed $1 billion in assets and 4.5 million users.
UK fintech Cash Coach set to gamify savings launches on app stores
The fintech will now look to raise up to £400,000 on Crowdcube.
Chip raises UK’s ‘largest’ lockdown equity crowdfund on Crowdcube
Chip managed to raise £2.6 million from 4,240 investors.
Saudi Arabia’s fintech sandbox welcomes nine more start-ups
The sandbox is home to 30 fintechs.
UK fintech Zeux lets users shop on Amazon through its banking app
The feature is currently in beta.
Curve bags former PSR CEO as advisor on regulation strategy
Nixon managed the PSR for five years until last year.
Klarna exec jumps back into banking as CIO of Bluestep Bank
Klarna’s former VP of Engineering says he can’t wait to build “a mortgage bank for all”.
Varo Money takes on Moven’s consumer accounts
Accounts with Moven will shut on 30 April 2020.
Credit Kudos lands £5m Series A ahead of FCA’s credit market study
The capital raise was led by AlbionVC.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
Women-only neobank Elas to launch in Brazil
Elas was officially founded in January this year.
