Alipay launches prepaid card for international visitors
Prepaid card scheme for international visitors is a first for the giant Chinese payment firms.
Consumer/Personal Finance
Backbase Connect 2019: Backbase challenges Banco Santander’s €20bn digital spend
The digital banking firm says it will build a digital bank in one hour.
UK start-up Freetrade raises $15m, inc. first-time investor Draper Esprit
Draper Esprit invested $7.5 million in the fintech.
Japan’s instant credit start-up Paidy raises $143m
It includes $83m in a Series C extension and $60m in debt financing.
UK Treasury makes paying back consumers victim to APP fraud ‘compulsory’ for banks
The phrase ‘gross negligence’ will also be defined.
End-to-end innovation in digital debt management
We speak with Spyros Retzekas, COO, about what’s helped the business thrive.
Video: Top fintech stories this week – 01 November 2019
FinTech Future’s weekly news round-up.
Credit score fintech TotallyMoney raises £5m investment from SVB
TotallyMoney now has 2.5 million customers.
Neobank Rebellion becomes first fintech to offer Spanish IBANs with banking licence
A Spanish IBAN will allow users to direct their salary to their Rebellion account.
UK fintech Koyo raises £3.8m to aid wiped credit histories
The fintech helps migrants or people who’ve never taken credit or been the main bill payer.
Starling Bank launches dual currency debit card with pounds and euros
The card will go live alongside its business euro account launch.
Nationwide invests in UK energy bill saver Switchd
Switchd considers the energy market outside the six big players too.
Uber relaunches credit card with Barclays, drivers get real-time cash flow
Uber has rolled out its financial product line Uber Money.
Bank of America unveils new mobile banking app with loan applications built in
The bank has 29 million mobile clients.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
US challenger Current raises $20m in Series B, surpasses half a million customers
The neobank began as a parent-controlled teen debit card in 2017.
How to provide customers from China with a habitual and convenient service
An official account is the first step for a company towards the Chinese audience.
Video: Top fintech stories this week – 25 October 2019
FinTech Future’s weekly news round-up.
The birth of life stage banking
Finally customers will get help in managing their lifestyle or life stages.
Western Union expands into Asia with Kyodia and Hanpass partnership
The collaborations are live with payout functionality.
UK consumers stick with their banks as switches drop again in 2019
This decrease follows a similar pattern between Q1 and Q2.
US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Mastercard and Visa battle over Revolut deals
Revolut says 75% of its non-European cards will eventually be Visa branded.
Santander to launch online deposit platform in US
It is said to be a rival to Goldman Sachs’ Marcus offering.
Making payment easy across Africa and beyond
Thabo Makoko, explores how the continent can improve its payments infrastructure.
Webinar: Revolutionizing Credit Cards: How to Deliver Value Through Context
Catch the latest Finovate webinar on-demand!
US challenger Chime goes down for millions of customers
Chime serves more than five million accounts across the US.
ID Finance crowdfunds £1.5m in minutes, eyes up Hispanic and Latino loan market
ID Finance is on track to double revenues to €90m this year.
DIS 2019: OBIE trustee says business-consumer adoption figures in ‘hundreds of thousands’
The ‘big nine’ UK banks still represent around 95% of the market, says OBIE.
DIS 2019: Lendtech OpenWrks says it can predict divorce and relationship breakdown
OpenWrks can determine when gambling will become a health issue too.
UK lendtech Zopa brings transparency to credit score calculations
Zopa says it’s the first lender to show how it determines who to lend to.
Educating the masses
The age for financial literacy is getting younger and younger.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
Nine UK fintechs land in Australia under the countries’ bridge programme
The companies will be showcased at Melbourne’s Intersekt conference.
Brazilian fintech Nubank’s user base soars to 15 million
The fintech has reached decacorn status with a $10 billion valuation.
OTP Bank welcomes “later-stage” start-ups to its partnership programme
Applications need to be made by 22 November 2019.
Intesa Sanpaolo invests €7m into vending machine digital wallet MatiPay
The fintech will expand its operations in Europe, Japan and the US.
HSBC takes on digital challengers with First Direct overhaul
The telephone-based brand is looking at AI and in-app technology.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
UK’s Royal Mint unveils first 18-carat gold payment card
The card enables limitless spending and zero foreign exchange fees.
