Deutsche Bank creates digital bank Fyrst
Currently the project is suspended by the former subsidiary Postbank.
Digital
Fraud fighting platform secures additional $2.5m funding
Eftsure will be expanding the product suite to cover international payment verification.
IIG Bank Malta live with Temenos T24 core and digital platform
It also took Temenos’ financial crime mitigation module.
Elevator Ventures invest in RegTech platform kompany.com
kompany combines AI, robotic process automation and blockchain technology.
Klarna bags $460m equity funding
It’s now the most valuable EU fintech with a valuation of $5.5 billion.
Libra cryptocurrency users face taxing problem
It is not clear how Facebook intend to solve this problem.
Federal Reserve reveals real-time payment system plans
FedNow will be available to all US-based banks by 2024.
Standard Chartered Bank launches Shanghai eXellerator lab
It will tap into China’s advances in artificial intelligence, biometrics and mobile payments.
SmartStream partners with Finanz Informatik Solutions Plus
This will support reconciliation processes for financial institutions.
Penta raises €8m in funding round
The round was led by HV Holtzbrinck Ventures.
Almost half a million Monzo customers affected by data breach
The data leak allowed staff engineers access to PINs stored in encrypted log files.
Insurwave onboards Xceptor to digitise insurance documents
Xceptor uses AI to to extract and transform any type of data from any source.
ASOS and Klarna bring flexible payments to the US
The US will pay in four scheduled bi-weekly instalments to reflect the US salary schedule.
BHF Rural Bank pilots programme with PearlPay
BHF becomes first ever Filipino rural bank to use core banking solutions.
Three lessons traditional banks can learn from their younger siblings
Teamwork, transparency and creating a competitive culture is key.
Federal Bank launches instant online demat account
It is the first bank in India to offer the service.
Ipagoo enters administration
This was to protect the interests of Ipagoo’s customers.
Grayscale selects Coinbase to store $2.7bn worth of assets
Coinbase Custody had reached $1 billion in crypto AUM in May.
White paper: Agreement automation – Best practices to remove friction, improve compliance and achieve growth
Download the latest white paper from Onespan
Standard Chartered and Linklogis debut joint transaction on blockchain platform
The bank leveraged Linklogis’ WeQChain platform.
Indonesia shuts down 826 illegal fintechs in 2019
The regulator began a crackdown last year.
Oromia International Bank goes live with ICS Banks core banking system
OIB’s end-of-day processing has been reduced to less than 30 minutes as a result.
UBS partners with BizEquity
UBS’ wealth management arm can access BizEquity’s database of businesses and valuation information.
KKR to acquire majority stake in Heidelpay
The CEO of Heidelpay will remain as a long-term shareholder.
Big banks are driving fintech to the mainstream
And it’s happening faster than you think!
Open banking law to boost fintech competition
It aims to shake up competition for consumers and boost start-ups against the big banks.
Video: fintech news weekly round-up – 29 July 2019
Some of this week’s news, in video format!
Crealogix moves to SaaS model
Profits have fallen but sales increased to over $100 million.
Nationwide to open innovation centre in London
The London facility will accommodate around 1,000 workers.
CFTC charges trader with spoofing in financial futures markets
The filing and settling charges are against the trader, Benjamin Cox.
Microsoft and Publicis Sapient back world’s first fully digital trade bank
The UAE-based Anglo-Gulf Trade Bank aims to address global trade finance gap.
New Zealand regulator suspends AxiCorp’s derivatives licence
The suspension is effective from 29 July 2019.
TSE launches data sandbox for securities tech
Tokyo Stock Exchange calls for data and innovation partners.
Are non-bank payment service providers doing enough to protect customers’ funds?
Some heady advice for non-bank PSPs to avoid regulatory action.
Banca Popolare di Sondrio adopts InstaPay
“Immediacy is the new standard demanded by users.”
Middle East’s first licenced crypto exchange Rain is live
It also closed a seed round of $2.5 million.
Aspire scores $32.5 million raise
The company graduated from Y Combinator Winter 2018 batch.
Line, Next and Rakuten receive Taiwan online banking permits
The FSC does not plan on issuing more virtual bank permits.
JP Morgan and OnDeck part ways
While OnDeck pursues a banking charter.
Legal & General inks its first fintech partnership
It will help diversify its product offering.
