Backbase Connect 2019: Final round-up and key takeaways
How banks will survive the “neo-reality”.
Digital
Mylo raises $10m Series A from major Canadian financial institutions
This fundraising marks two years of rapid growth for Mylo.
Nets makes changes to the executive committee
This includes a new CEO of Issuer and eSecurity Services and group CHRO.
Backbase Connect 2019: Backbase’s CEO says its biggest challenge comes from its customers
Banks need to fully commit to a “neo-reality” digital transformation.
Goldman Sachs leads $50m Series C funding round for credit card platform Deserve
The funds will go to its “Card as a Service” (CaaS) platform.
The Other 50 Podcast: all roads must lead to profitability
The state of challenger banks and fintech funding, and what the future holds.
Backbase Connect 2019: How Backbase built a digital bank in 47 minutes
From an uncustomised template to a fully-customised, integrated banking app with 13 mins to spare.
A Rare first in banking: Thought Machine unveils Vault Rare feature
Vault Rare will allow banks’ customers to edit, adjust and even visually style banking products themselves.
Flywire appoints new president and COO
Former Apple Pay executive Rob Orgel joins the team.
American Express partners with Coupa for virtual card integration
Amex cards will be available to Coupa clients from late 2019 onwards.
AFME promotes further adoption of public cloud in capital markets in new paper
The paper also outlines several barriers to cloud adoption at present.
Corlytics appoints chief digital officer
She was the former head of regulatory intelligence at Thomson Reuters.
Picturewealth co-founder says VCs don’t understand profit when it comes to start-ups
Neal Cross reveals the flaws in fintech start-up’s pitches today.
How intelligent service platforms are driving differentiated service experiences in commercial banking
In today’s competitive landscape, creating client value in banking is complicated.
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.
Revolut CISO leaves after two months on the job
Dinis Cruz has left the challenger bank by mutual consent.
Central Bank of UAE plans new fintech office to power innovation
Governor Mubarak Rashid Al Mansouri says central bank has a “five pillar” approach.
Sweden’s subscription manager Minna Technologies lands deal with Norway’s SpareBank 1
Competitor Subaio has recently signed deals with various other Nordic banks.
South Korean regulator plans Open Banking experiment
The scheme will involve a “comprehensive assessment” for Open Banking.
Self-service in the branch and as the branch
ATMs are the powerhouse player in a modern digital strategy.
UK start-up Freetrade raises $15m, inc. first-time investor Draper Esprit
Draper Esprit invested $7.5 million in the fintech.
Westpac partners with 10x Future Technologies to build new platform
Australian bank hints at moving to 10x technology for its core.
The identity challenge: How can banks know who’s who?
Proving identity is the critical first step in preventing theft.
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.
Appway: Firms must seize “opportunity of disloyalty”
Wealth management is a traditionally “sticky” industry.
Facebook target of financial services discrimination lawsuit
Facebook accused of allowing older and female users to be ignored by ads.
HSBC-backed fintech Bud looks beyond financial sector in re-focused product model
The fintech has axed 20% of its staff and undergone a business restructure.
Saudi Arabia’s Riyad Bank pumps $26.7m into new fintech start-up programme
The programme will bring together entrepreneurs and tech companies.
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
Subaio subscription management solution live at multiple Nordic banks
Firm plans further expansion following successful projects in Scandinavia.
Why BNY Mellon didn’t hire ‘the perfect data scientist’ on paper
The head of digital share his top tips on how to get a job at BNY.
IDnow gains $40m funding injection from Corsair Capital
Verification firm plans to use fresh cash to open new locations.
National Bank of Canada launches Innovation Competition
NBC invites start-ups, developers and students to participate.
Case study on Bank of America: How robots help serve and protect the bank
In a bank of this size, there are many areas that would benefit from automation of repetitive tasks.
The common data format that benefits everyone
Data has only recently started being held in such high regard.
The dawn of T+3 minutes liquidity management
Help is at hand for intraday liquidity.
Great Plains National Bank signs on Teslar Software
Oklahoma-based bank aims to revamp manual processes.
Video: Top fintech stories this week – 01 November 2019
FinTech Future’s weekly news round-up.
Monzo hires new CRO with blue chip banking career
Lisa Nowell leaves ClearBank after just six months.
