What the Fintech? Episode 4 | Partnerships: till death do us part
Sean Hunter CIO at OakNorth, offers his advice to companies struggling to make a partnership work.
Digital
RBS closes digital bank Bó six months after launch
Customers will be given a notice of “at least” 60 days before their accounts are closed.
US challenger Bambu picks FIS Modern Banking Platform
Tennessee-based challenger bank plans to target the underbanked.
Tide picks Mambu to power credit facilities and overdrafts
Tide is revamping its customer offerings and adding new functionality with Mambu.
Hungary’s central bank unveils first fintech report
The report recorded 110 domestic fintech companies as of 2018.
Overcoming data sourcing issues when testing finance virtual assistants
These testing challenges inherent to AI systems are compounded by data access issues.
Everything I ever needed to know, I learned from the West Wing
We don’t do nearly enough. We can do better and we must do better and we WILL do better.
Hanley Economic Building Society seeks technology refresh with DPR
The building society refits 25-year-old core systems.
Mastercard-backed Trust Stamp spins out subsidiary AiiD Global
EXCLUSIVE: the new subsidiary will specifically develop solutions for emerging markets.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Former Oracle VP Smedley joins Red Hat
Smedley joins IBM-acquired Red Hat after 18 years at Oracle.
Iress integrates with Knowledge Bank’s mortgage criteria search engine
Brokers will be able to access lender criteria all in one place.
US banks roll back lending to European companies
“We are increasingly observing an ‘America first’ attitude among large US banks.”
Paysafe partners with Gala Technology to open SOTpay channel
The two firms will work on enabling more transactions for merchants.
Nigerian open banking fintech Okra raises $1m from TLcom
“We’re opening the door to another level of innovation,” says founder.
People power: tracking demand for biometrics in payments
56% of consumers would prefer to use a biometric sensor on their payment card instead of a PIN.
Revolut loses two more financial execs a month after losing CFO
Both leave the bank after 12-month tenures.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
Chip raises UK’s ‘largest’ lockdown equity crowdfund on Crowdcube
Chip managed to raise £2.6 million from 4,240 investors.
Currencycloud among first non-bank firms to offer Swift gpi payments tracking
TransferGo, Penta and Money Mover were early participants in the pilot programme.
bunq launches shared ‘bunq +1’ accounts for parents and businesses
Users can add as many bunq +1s as they want for a flat fee of €2.99 each month.
Defending against COVID-19: the unforeseen risks
Leaders and managers may find themselves in a response management mode that is unfamiliar.
Video: Top fintech stories this week – 24 April 2020
FinTech Futures’ weekly news round-up.
Lifetise launches app to assist self-employed with finance support amid COVID-19
It quickly determines the government support options available to them.
Information Builders & Sound Credit Union collaborate on reporting package for COVID-19
IBI’s self-service analytics are designed exclusively for credit unions.
ING-backed Yolt app plugs into American Express
YTS said it was processing 14 million API calls on average per week.
Portuguese government gets one step closer to approving fintech sandbox
The sandbox is part of the government’s Action Plan for Digital Transition.
University of Oxford & Mastercard team up on cyber skills programme
It will feature research, content and data from renowned academics and industry leaders.
How to shift gender balance in fintech
More than a third of fintechs in our sample did not have a single woman on their board.
Tech for good
Highlighting how tech companies have come to the rescue during the COVID-19 crisis.
The Inclusion Foundation launches to tackle financial exclusion
#FinancialInclusionMatters has been created to show support for TIF’s work and spread the word.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Temenos rolls out AI models to help banks lend quicker during coronavirus
“Our AI can expedite accurate decision making and help the front line staff,” says Temenos.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
Saudi Arabia’s fintech sandbox welcomes nine more start-ups
The sandbox is home to 30 fintechs.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
Nordic API Gateway lands $5m from Danske Bank and DNB
The fresh capital will initiate an “aggressive growth” plan to achieve pan-European coverage.
Swedish fintech Bokio lands $8m and merges with competitor Red Flag
The fintechs will have a combined user base of more than 80,000 customers.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
