US challenger One launches all-in-one card to serve middle class
One’s debit card offers a mixture of current, savings, and credit services.
Financial Services/Finserv
Crypto exchange Gemini launches in UK armed with EMI licence
UK customers can now make GBP deposits to fund their Gemini account.
The shifting ground of payments: are banks and SMEs aligned?
It’s safe to assume that in time, every business and consumer will expect immediate settlement as a norm.
Video: Top fintech stories this week – 25 September 2020
FinTech Futures’ weekly news round-up.
Webinar: Lending digitalisation & AI: Beyond the hype – what’s concrete?
Real customers’ use cases demonstrating the benefits of AI throughout the entire credit lifecycle.
Revolut’s four-year-long partnerships head Rishi Stocker departs
Stocker spearheaded Revolut’s Japan launch.
FinCEN Files: Legacy technology “not up to the challenge” to tackle AML
Changes could be needed on both sides to prevent another FinCEN Files.
Webinar: What does the future hold for “traditional” banking models?
How banks can thrive amid uncertainty and increased competition.
Westpac agrees to record AUD 1.3bn fine for AML failures
Australian bank on the receiving end of the country’s largest civil penalty.
Robinhood’s valuation continues climb with $460m funding
Robinhood it will use the funding to improve its customer experience.
White paper: Scalable, actionable anti-money laundering infrastructure
Open source AML solutions offer lower costs, rapid technology evolution, and broad community-based innovation.
DTCC appoints Lisa Hershey as new chief compliance officer
Hershey has worked at DTCC for more than a decade.
Mode CCO: Alipay success can be replicated in the UK
With an IPO looming, Mode has got a busy year of business ahead of it.
Tech Nation’s third fintech cohort challenges London bubble
“What was striking is the increase of such businesses set up outside London and by women.”
Impact investing: the powerful new trend
Barry Palte, chairman of EQ Capital Partners makes a case for ESG investments.
OCC issues guidance on US banks’ stablecoin activities
The US regulator issues clarification for FIs dealing with crypto.
CloudMargin raises $15m Series B from Citi and Deutsche Bank
Investors say high market volatility has highlighted the need for such CloudMargin’s platform
Yandex plans $5.5bn acquisition of Russian neobank Tinkoff
Russian tech giant plans to snap up the country’s largest online bank.
Goldman Sachs launches transaction banking service with Volante
The new cloud-based system is an “industry first” according to the pair.
UK fintech trio found Cape to tap Australia’s SME credit card market
Australians’ credit card debts fell to a 15-year low in July.
Knowing how the story ends
“Where do I begin?” If you have ever asked me, you know my answer is always the same: in the middle.
Standard Chartered launches Mox Bank in Hong Kong
The virtual bank uses Thought Machine’s core banking system.
Live Oak Bank deploys Finxact core for deposits and loans
The US lender picked Finxact in 2018 to revamp its core systems.
Illimity and Banca Sella buy into each other for open banking venture
A flurry of share issuance, exchanges and buyouts as illimity nabs half of fintech firm Hype.
UK challenger Kale99 launches to provide digital banking with a CX twist
New fintech aims to copy the rapid growth of its vegetational namesake.
Volt Bank partners with Microsoft to launch BaaS platform
Volt aims to provide retailers and incumbent banks with digital banking services.
Ireland’s An Post launches new app to take on Revolut
By 2025, An Post wants to hit one million customers.
Report: What keeps AML & CFT professionals awake at night?
Do your peers share your compliance challenges and professional pains?
Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
Revolut faces lawsuit in Romania over blocked account
Revolut faces 3,911 complaints so far this year, as compared to its 2,487 for the whole of 2019.
TrueLayer raises $25 million in Series C funding round
New injection brings TrueLayer’s total raised to $72 million.
Sustainability fintech Helios aims to reduce users’ carbon footprints
French fintech wants to help users reduce the impact of their spending on the planet.
WeChat transactions ban blocked by US judge
Issues over First Amendment rights causes US magistrate to block US ban.
ClearBank offers multi-currency accounts through JP Morgan API
UK clearing bank claims to be the first of its kind to provide the service.
Tink snaps up UK rival OpenWrks’ aggregation platform
The deal is part acquisition, part strategic.
Five techniques for financial institutions to build and protect their digital reputation
How to protect the distinctive brand values that set you apart from the competition.
How COVID-19 is altering the payments landscape for merchants
The pressure on merchants is immense to serve each individual consumer in the best possible way.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
CleverCards CEO: There’s only going to be one winning challenger bank
CleverCard’s Kealan Lennon reckons the market isn’t big enough for so many neobanks.
US payments firm Melio raises $80m in Series C funding round
Melio plans to use its new funding to expand and reach more customers.
