Nationwide invests in UK energy bill saver Switchd
Switchd considers the energy market outside the six big players too.
Consumer/Personal Finance
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.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
FinovateFall 2019: PFM is making a comeback
The energy in the room was palpable, and all aspects of the financial technology community were on display.
Pakistan’s JS Bank first in country to launch ‘chat banking’ on WhatsApp
The service is free to use with no registration process.
Amex admits to data breach from employee trying to commit fraud
Card numbers and social security numbers were compromised.
Temenos signs core banking deal with Maltese challenger Laskaris Finance
Laskaris will serve high-net-worth individuals and corporate clients.
AI: Understanding bias and opportunities in financial services
In this two-part series, Nadia Sood explores the issues with AI constructs.
Yolt gets closer to all-in-one banking app with Raisin
Yolt’s UK, France and Italy-based users can now open a Raisin account.
Norway’s largest bank set to monopolise country with all-access mobile banking app
DNB has access to every bank in the country.
PayExpo 2019: Monzo COO not so sure it needed to be a bank for its success
His reasons boil down to expensive, slow and heavy hoops since its licence.
PayExpo 2019: We will be taking action, says FCA on insufficient safeguarding
The regulators found banks are delaying safeguarding precautions.
Consumer champion app Snoop goes live, founded by ex-Virgin Money execs
The UK-based fintech is accepting sign ups on its waiting list.
